Zimbabwe’s largest trading partner, South Africa, has announced that it will announce a policy within two weeks to ensure that 75% of its purchases come from home. This also means that Zimbabwe’s export and service export markets in South Africa will shrink dramatically.
The Ministry of Trade and Industry of South Africa stated that the "Priority Local Procurement Policy Framework Act" will be formally implemented starting from December 7.
In this regard, industry and market observers believe that Zimbabwe’s trade will be severely hit, especially after a decade-long recession, and many Zimbabwean companies are still in a period of recovery.
The upcoming implementation of the new South African policy will affect trade in all industries. The first products listed as “priority for local procurement†include: Leather, footwear, large buses, transmission towers, railway vehicles, medicines, set-top boxes, clothing, Textiles, foods and canned goods, as well as office furniture and school supplies.
The Ministry of Trade and Industry of South Africa stated that the "Priority Local Procurement Policy Framework Act" will be formally implemented starting from December 7.
In this regard, industry and market observers believe that Zimbabwe’s trade will be severely hit, especially after a decade-long recession, and many Zimbabwean companies are still in a period of recovery.
The upcoming implementation of the new South African policy will affect trade in all industries. The first products listed as “priority for local procurement†include: Leather, footwear, large buses, transmission towers, railway vehicles, medicines, set-top boxes, clothing, Textiles, foods and canned goods, as well as office furniture and school supplies.
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