Government is being called upon to introduce an export revival strategy to solve the widening trade deficit which has resulted in Zimbabwe becoming a net importer of goods and services.According to proposals from the business community for consideration in the 2011 mid term budget, Government is being urged to come up with a strategy that will solve the gap between imports and exports currently hovering at US$2 billion in the negative.
In terms of the proposed strategy, captains of industry and commerce say Government should introduce an export retention facility to increase output, remove duty on imported raw materials, mobilise a financial rescue package to the manufacturing sector and boost disposable incomes.
The Zimbabwe National Chamber of Commerce chairman, Mr.Â Davison Norupiri said Government should also focus on reducing the current high production costs which are hindering growth in local production volumes.
â€œWe just hope that something shall be done to the extent of increasing exports, said Mr. Norupiri.
An economic analyst, Mr. Trevor Jakachira said the full swing resurgence of the export industry depends on the implementation of proposed policies so that they can achieve set targets.
â€œWe also hope they understand our position for the growth of the economy,â€ Mr. Jakachira added.
In a related development, Government through the Ministry of Economic Planning and Investment Promotion is reviewing economic policies to ensure that the nation attains the projected 9,3 % growth rate by end of this year.