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Exploit DRC market, ZDA prods businesses

Exploit DRC market, ZDA prods businesses
By Kabanda Chulu
Fri 26 Aug. 2011, 08:40 CAT

ZAMBIAN entrepreneurs should take advantage of the huge prevailing consumer market opportunities offered by the DR Congo that is accounting for over 39 per cent of total non-traditional export earnings, says ZDA director for export promotions Glyne Michelo.

During the 11th trade mission to the DR Congo that started yesterday in Lubumbashi, Michelo stated that there was an absence of industrial activities and commercial agriculture in that country because it was not fully developed.

"This means that most basic food requirements and industrial products have to be imported thus offering a large market for Zambian exporters especially of agricultural products, food items and industrial products," Michelo stated. "The DR Congo has continued to be an important market for various Zambian products.

With its population of 68 million people, the country provides the largest consumer market for Zambian goods in the region with minimal transportation costs in comparison with other countries in the region."

He stated that Zambians should aspire to maintain a foothold in the market and expand its market share and also introduce new companies. "It is imperative for ZDA to relentlessly undertake such export promotional activities.

It is for this reason that the two governments have initiated the Bilateral Trade Agreement that will assist in removing most hurdles companies face in trading with the DR Congo market which is a highly lucrative market," stated Michelo.

"This market, especially the Katanga Province, is one of the largest markets
for Zambia's Non-Traditional Exports and is by far the largest single market in the COMESA market with immense potential for Zambian companies to significantly increase their export earnings."

In 2009, the DR Congo market accounted for US $567.3 million worth of Zambian products against US $439.65 million recorded in 2008.

This accounted for 39.8 per cent of total non-traditional export earnings for the period under review and this figure is only for merchandise exports and excludes services.

The trade mission will run concurrently with a solo exhibition where Zambian companies will showcase their products to their Congolese counterparts and be provided with a platform for matchmaking way of one-on-one meetings.

In 2010, the trade mission recorded confirmed orders valued at US $21,595,460 against the confirmed orders valued at US $6,814,800 in 2009 for the supply of various goods and services.

Labels: DRC, GLYNE MICHELO, ZDA

posted by MrK @ 5:16 PM