TRYNESS TEMBO, Lusaka
ZAMBIA Development Agency (ZDA) has started revising its export strategy by undertaking investment promotion activities in regions where most raw materials for production are sourced to stimulate exports.
The measure is expected to boost the country’s export capacity, thereby generating revenue and jobs as the country drives its industrialisation agenda.
The agency says Zambia’s non-traditional exports are uncompetitive because the country is a net importer for most raw materials used in production.
“…When the Kwacha depreciates, they become expensive resulting in high cost of production making Zambia’s NTEs uncompetitive,” according to the ZDA exporter audit report 2016.
“It is recommended that investment promotion activities are undertaken in markets from which most inputs are sourced to increase the country’s export base,” the report reads.
ZDA also says there is need to source funds for increased trade promotion activities in regional markets to undertake trade missions and fair activities in key regional markets such as the Democratic Republic of Congo, South Africa, Zimbabwe, Malawi, Kenya, Mozambique, Angola and Tanzania.
The agency will also continue to undertake market research studies in key regions to provide up-to-date market information to exporters.
Furthermore, ZDA is embarking on encouraging product development and adaptation to increase export base across the sectors.
“Enhanced product development will increase the export base of the country,” the agency says.