HARARE: Trade between Zimbabwe and Italy grew by 1% to $114 million in 2014 after the European nation opened its market through the Interim Economic Partnership Agreement (iEPA), data from ZimTrade has shown.
Information gathered from ZimTrade, the country’s statutory export promotion body, indicates that Italy was one of Zimbabwe’s major markets in Europe taking $113 million and $114 million worth of Zimbabwean products in 2013 and 2014, respectively. Exports to Italy consist of ferro-chromium, granite, leather, raw sugar cane and nickel.
ZimTrade said the prospects for Zimbabwe to increase business with Italy were high given the technological advances that Italy has achieved.
“Italy is best known for quality products and has developed expertise that Zimbabwe could tap into in order to access modern production technology,” ZimTrade said.
“Italy has developed into a powerhouse particularly in the food, fashion (clothing and leather goods), furniture and engineering industries.”
ZimTrade said the ongoing Expo Milan, which runs until October 31, 2015, has accorded Zimbabwe the opportunity to showcase its trade and investment potential.
The main area of interest of visitors to the Zimbabwe pavillion, according to ZimTrade, has been in healthy food, which opens an opportunity to supply dried vegetables, herbal teas and baobab powder, among other foods.
ZimTrade said through iEPA there was a great opportunity for local companies to tap into the Italian market. Italy, being a member of European Union, offers duty-free and quota-free access to qualifying Zimbabwean products, said ZimTrade.
