Harare — THE lucrative deal clinched by Zimbabwe to export at least 5 000 tonnes of beef to Hong Kong could mark the beginning of the revival of the beef sector which has been scouting for export markets with limited success in recent years.

Zimbabwe produces high quality beef renowned internationally but has failed to make significant inroads into the international markets due, largely, to the foot and mouth disease, a challenge that now seems to be under control.

A lot of effort has been put in place to curb the disease with extensive national vaccination programmes being undertaken.

This is beginning to bear fruit.

The fallout with the European Union a few years ago due to fears of the foot and mouth disease had almost brought the beef sector to its knees but, as attested to by Cold Storage Company chief executive Mr Ngoni Chinogaramombe, the Hong Kong deal, which comes with no quota limits, should be able to take the country back to levels where beef exports accounted for a significant portion of total foreign currency earnings.

Zimbabwe used to export 9 000 tonnes annually to the EU, earning about US$50 million from that deal alone but receipts had dwindled in recent years.

Therefore, the Hong Kong deal, renewed interest expressed by the EU and other deals in the offing, should be able to jumpstart the beef sector in a big way.

We understand negotiations with Malaysia in this regard are almost sealed while the EU intends to send assessment teams with a view to renewing the contract.

This not only demonstrates the beef sector's capacity to earn significant amounts of foreign currency but also underlines the fact that Zimbabwean products, if aggressively marketed, have the potential to successfully penetrate the international market.

This country is yearning for all the foreign currency it can get, particularly against the backdrop of the absence of balance of payments support.

The potential is there and we can only hope deals such as the Hong Kong one will provide the impetus for exporters to do better than they have been doing all along.

Furthermore, this deal also demonstrates that the Look East Policy adopted by the Government is no mere political rhetoric but, if followed through by industry, provides an avenue through which Zimbabwean products can penetrate markets in the East in a big way.

Agricultural and other products from most sectors of the economy can easily penetrate those markets and bring in the much-needed foreign currency.

China alone, with a population of more than 1 billion people, provides a huge market for this country.

The US$3 billion Zimbabwe requires annually would not seem such an arduous goal to achieve were exporters to follow through opportunities created by such Government policies as the Look East.

However, with regards to the beef sector, the onus is now on CSC and all livestock producers to ensure they produce quality beef to meet the rising demand.

Zimbabwe should not be found wanting in meeting the export figures.

Droughts and diseases have presented formidable challenges to this sector but funds allocated to vaccination programmes and restocking initiatives should be able to ensure the production of high quality beef in the required quantities.

It would be a sad day for our country were we to negotiate deals but fail to deliver.

We, therefore, implore the powers-that-be to inject capital into CSC so that it starts performing viably.

Reports this week that it needs about $800 million for recapitalisation should culminate in spirited efforts to engage investors with the requisite capital.

President Mugabe has also spoken strongly on the need to recapitalise the sleeping giant.