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Zimbabwe's new policy identifies textiles as key sector

26
Mar '12
Textile industry has been identified as one of the key industries of mainstream economy under the new Industrial Development Policy (IDP), which is likely to be soon introduced by the Zimbabwean Government, Deputy Minister of Industry and Commerce, Mike Bimha, said.

Speaking at the 10th African Cotton Association Annual Congress, the Minister said the IDP, framed last year, is aimed at addressing the liquidity and other feasibility issues confronting different sectors of the Zimbabwean economy.

The objective of the new policy is to transform the country from being an exporter of basic agro items like seed cotton and lint, to a supplier of value added items such as fabrics and garments.

Moreover, it would also support generation of a favourable business environment characterized by social, economic and political stability, the Minister said.

Mr. Bimha said the IDP would also facilitate constant consultations with industry representatives such as Association of the Clothing and Textile Manufacturers of Zimbabwe, Zimbabwe National Chamber of Commerce, Cotton Ginners' Association of Zimbabwe, National Economic Consultative Forum, Confederation of Zimbabwe Industries and Business Council of Zimbabwe.

To support the initiative, visits to countries like India and China would also be organized, he said. It would enable the entrepreneurs to learn more about modern production techniques that considerably reduce the manufacturing costs and make the final products more competitive in global market, he added.

In adherence with the World Trade Organization norms, the IDP would also ensure safeguarding of the textile industry and institutions in the short term, while encouraging integration of Zimbabwean economy into the mainstream of international trade, the Minister said.

Fibre2fashion News Desk - India


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