BALANCING BETWEEN PROTECTION OF LOCAL INDUSTRY AND FREE TRADE AGREEMENTS IN ZIMBABWE IN THE POST COVID 19 ERA.
Zimbabwe has faced innumerable challenges on its quest to recapitalize its local industries. The Confederation of Zimbabwe Industries (CZI) Manufacturing Survey notes that the industry capacity utilization fell by 11.8 % to 36.4% in 2019 from 48.2% in 2018. There was a further decline in 2020 due to COVID-19 devastating effects which has already saw contraction of developed nations’ growth projections. The reduction in capacity utilization comes with costs to both the government and the public as there will be losses in revenue, increased unemployment rates, growing levels of poverty and a decline in exports volumes resulting in further straining of already shortages of foreign currency. This will not be good for the economy and national security. Zimbabwe has limits in terms of available options and has to adopt the most uncommon protectionism and face the backslash from both internal and external stakeholders. Polices papers and drafts have been written a...