By Rudo Saungweme

ZimTrade has hailed the New Dispensation’s economic reforms saying that it has improved the ease of doing export business in Zimbabwe resulting in the increase of exports by twenty three percent from US$2.8 billion recorded in 2016 to US$5 billion this year.

This was revealed during ZimTrade Annual General Meeting which held today at Meikles Hotel.

Speaking at the meeting, ZimTrade Board Chairperson, Lance Jena said, “A number of policy measures in line with Zim-ASSET and later on economic reforms in the New Dispensation are being implemented and chief among them is the Rapid Results Approach (RRA), a strategy designed to remove institutional bottlenecks in the trading environment and therefore improve the ease of doing export business.

“During the period January to November 2017, the country`s total exports amounted to $US3.5 billion, indicating a twenty three percent increase from US$2.8 billion in 2016 to US$5 billion in 2017. Subsequently, Zimbabwe`s trade deficit decreased by thirty eight percent from US$2.4 billion in 2016 to US$1.5 billion.”

According to the World Economic Forum Global Competitiveness Index (GCI) Report for 2017/18, Zimbabwe`s position moved slightly from 126 in 2016 to 124 in 2017 out of 137 countries on the global competitiveness rankings. Zimbabwe is also ranked number 159 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings.

ZimTrade is a national trade development and promotion organisation, which works in partnership with the private sector and the Government of Zimbabwe. It was established in 1991.