The Standard (Zimbabwe)

ONLINE FEEDBACK

-

Zimbabwe has opened and exposed itself to a plethora of predatory investors in the current engagement and re-engagement drive under the National Developmen­t Strategy 1 in a move to attract foreign direct Investment­s by large multinatio­nal corporatio­ns and conglomera­tes.

Whether Zimbabwe reaped the anticipate­d benefits from these investment­s in the name of internatio­nal trade or not is a subject for another day.

However, history has it that the gains from internatio­nal trade are most frequently captured by a few large firms, often at the expense of the majority of small enterprise­s, women entreprene­urs, artisanal and small-scale miners, rural agricultur­ists, and fishers, among other players.

This is largely because such small actors are faced with a myriad of obstacles in benefiting from internatio­nal trade such as limited informatio­n or lack thereof, lack of financing, bureaucrac­y, red tape, cost of doing business, prohibitiv­e entry costs, and underrepre­sentation in trade policy decision-making.

For Zimbabwe, the major flaws in internatio­nal trade have manifested in heightened corruption and illicit financial flows and trade practices which have often side-lined fundamenta­l human rights including life, livelihood, labour and environmen­tal rights.

Investors and global giants have betrayed citizens of national revenue inflows and public goods.

The foregoing background underscore­s the need for inclusive and equitable developmen­t which can only be achieved through trade justice.

To this end, trade justice is a critical issue as it is the only way developing countries can extricate themselves from the unbearable debt burden and from a complex web of unfair trade practices by Western and Eastern countries to undermine the economic developmen­t of countries like Zimbabwe.

Therefore, the demand for trade justice is not a matter of choice but an emergency for developing nations.

Zimbabwe Coalition on Debt and Developmen­t

Newspapers in English

Newspapers from Zimbabwe