Zimbabwe's campaign's for zero rate on all imports coming from the Common Market for Eastern and Southern Africa (Comesa) prior to formation of Customs Union by the year 2008, got major boost.
Phineas Chihota, Deputy Minister of Industry and International Trade, said that the Government would be discussing with the industry about plans to loosen up trade barriers within the guiding principle of the customs union.
The Government is gritty to stick to the ideology of the Comesa Customs Union and this is being done through negotiations with the private sector and stakeholders.
Removal of trade barriers would increase industrial productivity and enhance employment prospects. Customs Union would supply a wider market for neighboring companies, who would also export to Comesa nations duty free.
Mr Chihota said that the respite of blockade in Comesa would permit local firms to spread markets and give them admission to working capital through export earnings.
The development of the Comesa Customs Union is anticipated to provide level playing field among member states in terms of trade and mounting foreign direct investment inflows.
Comesa would focus on the complexity in accomplishing the free trade targets due to regional economic disparities among its member nations.
In order to exploit trade in the province, a committee of central bank governors in the Comesa area suggested that all members attain an annual inflation rate of 5 percent by 2008.
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