The Zimbabwe Export Council (ZIMEC) is being established to spearhead the country’s export development drive.
ZIMEC, which will work with export promotion bodies such as ZimTrade, is among other initiatives expected to lay down policy guidelines for developing and promoting exports as well as providing advice to the government on factors limiting export growth.
While the council is being considered at a time when the country’s export earnings are averaging at least US$2.5 billion per year against imports of more than US$6 billion, an economist Dr Albert Makochekanwa says implementation of the policy is key to achieving export growth.
“We hope for the better as we seek to sustain economic requirements for the nation,” said Dr Makochekanwa.
The need to consider workable solutions to challenges affecting export growth is also important in increasing earnings from exports, says an economist Mr Zack Murerwa.
“We are really concerned over the issue and we are just anticipating something better in the future,” Mr Murerwa said.
Zimbabwe’s export performance is currently being driven by increases in the volume of gold sales to external markets while platinum and tobacco are also playing an important role in terms of their contributions to foreign receipts.