HARARE Zimbabwe (Xinhua) --
The Zimbabwean government is amending at least 16 laws to boost exports which
have been on a decline over the years.
The laws are
being amended under the Ease of Doing Export Business Rapid Results Initiative
to address issues such as high cost of production, complex and burdensome
procedures as well as limited access to affordable long-term trade finance.
initiative is also expected to reduce the cost and time of exporting so as to
boost national exports which have fallen significantly in recent years resulting
in a widening trade deficit of 2.4 billion U.S. dollars in 2016.
chairperson of the thematic group on export regulation, said draft changes had
since been made to one of the laws that restricted exports through requirement
of export permits for a wide range of products.
amendments to the Statutory Instrument (8 of 1996) were completed by the
Ministry of Industry and Commerce, only four strategic goods are now left on the
list,” Ntini was quoted as saying by the state-run Herald newspaper on Tuesday.
He said the
four goods that remain on the list are fertilizer, raw and refined sugar, timber
and timber products.
Office of the
President and Cabinet deputy chief secretary Ray Ndhlukula said the initiative
was aimed at improving the ease of doing export business to boost production and
value added products.
facing local industry in exporting goods rendered Zimbabwean products
uncompetitive on the international market and expensive locally, he added.
therefore negatively affects industrial growth and development,” he said.
regulations that impede export procedures was therefore key to government as it
pushes towards export oriented growth, Ndhlukula said.
export earnings declined from 3.6 billion U.S. dollars in 2015 to 2.8 billion
dollars in 2016.