The Zambia Association of Chamber of Commerce and Industry, ZACCI, has observed a slump in demand for Zambian products on the global export market due to the current global economic recession.
ZACCI Chairperson, Hanson Sindowe, has advised government to increase its focus on diversification of the economy to increase the product range and value for exports in order to cope with the effects of the global financial crisis.
Mr Sindowe said this in Lusaka today in reaction to the 2009 budget which was presented last week.
He said although the country faced challenges of reduced earnings from copper sales, high inflation, and the depreciation of the Kwacha last year, it managed to grow the economy by 5.8 per cent.
He, however, said government, in the implementation of the 2009 budget should strive at reducing inflation and strengthening the Kwacha against major international currencies.
Mr. Sindowe has since commended Finance and National planning Minister, Situmbeko Musokotwane for selecting the theme of ‘enhancing growth through competitiveness and diversification’ for this year’s national budget.
He said this year’s budget is an extraordinary one as it seeks to address major issues seen by allocating more resources to the agriculture, economic, education, and health sectors.
He also said the country needs to reverse the downward trends in tourists arrivals, maintain current employment level in the construction sector and encourage additional value for goods meant for exports and also explore new markets for new products.
Mr. Sindowe said the government should also revisit the measures taken on duty on imported mobile phones saying this will make local cell phones expensive and will also encourage smuggling.
He also said ZESCO should first perform effectively before it can consider increasing electricity tariffs.
ZANIS/GP/ENDS/SJK
Could you be more specific as to which exports have gone down because am not too famaliar with zambian exports apart from minerals and agricultural products?
ok
Thats why grz need to invest in production so we can take competitive value added good to the market.
“diversification” I hate this word [-x[-x[-x
#1
Am equally lost! which exports is he refering to?
lets hope ist not just yapping again
chabipa. That ia what nyama soya should be addressing not globe trotting
Yes Yes Yes !! I am also Blank!! Please we need a list of the products affected!!
Any further discussion on this matter is based on an empty bag!!!
Products Please >:/>:/>:/>:/>:/>:/>:/
#4 Brudel fimofimo
You just have to get used to it! That word is here to stay!
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2. 3RqU
The Mail comes later this evening!! Cheers Bro
Baby C. I have missed you so much.
President is busy globe-trotting
#6 The Mwine, I had suggested shoe throwing to shut them up
#8 BRUDER L, yes we need the list urgently
The drop in demand for our exports is not a strange phenomena. Even the biggest economies in the world such as China are experiencing lower demand for their products. This trend is attributed to the global financial crisis and as such many countries are only importing what is really necessary so to say and spending most of their monies to save their ailing industries and avert job losses.
However, economic diversification is long overdue except we have had successively incompetent governments since 1964. More talk, zero walk!!
Sister
Oh mama i missed ypu too!! i also missed fluffy!!!
#10 Bruder L OK. Will be waiting. I wont be getting near the mahine at home though :d.
Oops! Machine!
Not only will the exports slumps but we expect a drastic flactuation in of prices because of nature of low price elasticity of demand for raw material.
he cant even be specific coz he knows that global economic financial crisis is now an escaping goat for everyone,there4,hez scared to be questioned…..!!!!!!!!!!
What else is there to export from zambia apart from copper and probably roses from Tata farms ?Dont cheat us, all we need to export bena shrek :((
What with this and no economic stimulus package in our annual presentation of the budget.We better brace ourselves for more uncertainities.Ka dollar nako kalepepeka K6000 .Its like a horror movie come true here
Maybe by exports they mean human exports to the diaspora because of the old passports being azed out:-?
we only export maize illegally and furtively; we don’t manufacture anything for export, except produce minerals for export; so which products have lost quality?:-?
bamambala ni yapping chabe to appear in the media and to register presence.
as i now leave my office,here is a thot for the day/nyt to all LT blogers; ‘learn to seek yo hapines by limiting yo desires rather than attempting to satisfy them.’
Empty statements. what a shame!! Give us the beef what are the figures what has been affected? who used to buy our stuff and is not buying anymore? who is buying less because part of their business has been taken over by the american or UK taxpayer. which of our export buyers had hedged some of their funds in the troubled banking sector? learn to give indepth analysis not kubwabwata bwata chabe. End did you see the comment about the budget theme? good gracious God who cares if the theme was ” Empty… Empty headed. everyopne is accusing the credit crunch spare me the b”?^%~#t
Dear Bloggers and fellow people of Zambeziland, please, read ‘DEAD AID’ a book by Dambisa Moyo. Mind and eye openner on how we, ourselves, could help improve our own economy. :d/
Observing is not enough. Tell us what you are doing about it to avoid implied job losses. Sooner or later affected exporters will cut workforce to reduce costs, leading to less PAYE and poverty for the families.
Hi All,
Has anyone seen Zoe, i am still waiting ka.
Hey maybe I am the one meant!! Am I not an export in Diaspora? :-?:d
There arenot so many Zedians in Gelemani, so pls send more :)>-
Which products are these ? Pantu na ma h.u.le we import from Zim
G Evening bloggers
Funny thing is that the former Finance Minister was rep[orted in one tabloid newspaper saying that the budget would not reduce poverty. He also accused the government of ‘fearing the mining companies’ because the windfall tax had been cancelled. His argument was that the mine capitalisation occured before the credit crunch so their profits could not be affected. I was surprised by theses remarks. We can produce a zillion tonnes of copper but who is going to buy the stuff? Mr Magande’s ‘sour grapes’ have blinded his judgment. Or could it be that the Dr was the brains behind it all?
Elo lwakosa globe crisis.
Diversification of the Zambian economy will not be born of words. It is a great strategy on the part of GRZ to see our strength as a Country. First, we do produce enough electricty which is one of the most important developmental resources. Zesco operations must be restructured and its many unproductive workforce pruned, so that it should have the capacity to operate with lower electricity tarrifs. Lower tarrifs reduces production costs and attracts investors, both local and foreign. That is how you encourage diversification!!!
The other thing is the stupid agriculture thing. Zambia, has completely failed to take advantage of its natural good climate. I dont believe that all the brains on Zambia cannot find better sources of fertilizers and other agricultural inputs. Look at Kafue Nitrogen Chemical?? what is it that every company that is Zambia can not operate profitably???. Are all Zambian companies doomed sure???. Everything is just a shame and failure. Even the constitution making process looks like crooks have just gone there to squander money
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29. Ba Dr Maureen
Those are never taxed [-x[-x[-x
BRUDER At least they should be issued with TPIN and ZRA reciept books. One copy goes to her (The Chewee) duplicate to him (The Chewer) and the triplicate to ZRA !
Good points Mr Sindowe. I know you from Mufulira.
Unfortunately most issues mentioned are non starters or stagnant somewhere. :-w
VOTE RIGGER
It is utterly shocking to read about his reaction. Now that he is out, he thinks mistakes are being made. It is totally inapropriate to comment as he did for the circumstances. I would expect a man of his stature or am I wrong, to handle his predicament better than exhibit a spiteful spirit.