The ongoing Zambia International Trade Fair (ZITF) has registered a drop in the number of foreign countries exhibiting while local companies have increased from last year’s 300 to 350 this year.
Speaking during the official opening of the 44th edition of the Zambia International Trade Fair, Trade Fair yesterday, ZITF chairman Phesto Musonda disclosed that this year, only 12 foreign countries were exhibiting compared to last year’s 18.
“This 44th edition of the ZITF has registered 130 foreign companies from 12 countries compared to 110 companies from 18 countries last year,” he said.
Mr Musonda explained that though there was a drop in the number of foreign countries, the development needed to be viewed positively in that, some foreign countries that exhibited in previous shows had now partnered with Zambian companies and had started operations in Zambia and as a result they were now exhibiting as local participants.
He further clarified that COMESA, which represents 19 member states, was also exhibiting at this year’s trade fair.
The Chairman went on to disclose that the ZITF has also registered new entrants from the United States of America and Mozambique.
He explained that the participation by the USA in the 2008 ZITF was a follow-up to the visit to Seattle, Washington, undertaken by Republican President Dr Levy Mwanawasa and the delegation from ZACCI last year.
He further revealed that the Americans were here to explore market for their products as well as to seek investment partnerships and opportunities.
And Zambia will this month alone achieve investment exceeding $2 billion.
Commerce Minister Felix Mutati said this Saturday during the official opening of this year’s International Trade Fair in the Copperbelt Province town of Ndola.
And government has signed investment promotion and protection agreements with foreign companies represented at this year’s Zambia International Trade Fair.
The government has also signed Memorandum of Understanding -MOU’s- with some local companies.
Mr. Mutati signed on behalf of the Zambian government.
ZANIS/PC/BMK/ENDS
The analysis in this ZANIS report is incorrect as they compare the number of LOCAL COMPANIES exhibiting to the number of foreign COUNTRIES exhibiting in one sentence! While the number of countries exhibiting has reduced from 18 countries last year to 12 countries this year, I note that the number of foreign companies has actually increased from 110 to 130 companies. Unless the figures are switched.
Who is this ZITF chairman Phesto Musonda, I read somewere that he is planning to make USD$ 160 Million investment in building a business complex in Kitwe I think. What is his CV and how has he made 160 Million Dollars in Zambia?
#2 what business of yours is it? If you are interested why not ask hin yourself, ni jealousy?
Trade Fair to Exhibit poverty?
Where do you take that money you get from ZITF? It each year a lot money is collected and we don´t know where it is taken.