Zim-Trade expo. Image credit europa.eu

Zim-Trade expo. Image credit europa.eu

ZIMSEC O Level Commerce Notes: Functions of of Zim-Trade ( Government promotion of foreign trade)

Function of Zim-Trade ( Government promotion of foreign trade)

  • Carries out market research in other countries to ascertain whether or not to export to those countries.
  • Examines and investigates, together with potential exporters, the possibilities available to invest in those countries.
  • Invites interested companies and finances their delegates to visit and explore investment opportunities in other countries.
  • Receives inquiries from importers abroad and passes the information to potential investors.
  • Helps companies in Zimbabwe to take part in trade fairs and exhibitions organised by other countries.
  • Supplies information to exporters in which exports from developing countries such as Zimbabwe to developed countries such as the United Kingdom receive preferential tariff charges.
  • Provides information on overseas countries on:
  • credit worthiness of overseas importers.
  • Economic conditions overseas.
  • Provide means of payment and receipt by:
  • use of documentary (letters) of credit
  • accepting and discounting bills of exchange.
  • Sending and receiving payments through telegraphic money transfers and bank drafts.
  • Offering financial assistance through loans.
  • Keeping money and documents safely.
  • Acting as guarantors.

To access more topics go to the Commerce Notes page.

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