CZI signs trade agreement with Turkish industrial association to boost trade

The two associations, Confederation of Zimbabwe Industries (CZI) and Turkish industrial association has signed a collaboration agreement with an aim to boost trade and business linkages between them.

Speaking at a round table economic briefing organised by CZI in Bulawayo on Wednesday, CZI president Busisa Moyo said that the agreement will allow local companies to do business with Turkey with minimal hurdles.

Moyo further added that the agreement would help companies in the textile industry to boost their businesses through exports and accessing raw materials from Turkey.

The biggest challenge the country have right now is a polarised environment, the political environment, in particular, that’s affecting business at a time when the situation is precarious, Moyo said.

Captains of industry who were present at the meeting called for the speedy operationalisation of the National Competitiveness Commission, the establishment of special economic zones and fine tuning of the new labour regulations.

They suggested adoption of internal devaluation approach to tame costs of production and setting up an acceptable minimum wage.

They also discussed strategies to curb imports and reverse the trade deficit, currently estimated at $3,3 billion annually.

National Blanket general manager Freedom Dube who was present at the meeting expressed interest in the agreement.