ZIMBABWE and the European Union (EU) have hailed increased trade between the southern African country and the bloc, which has seen significant growth in recent years.
Speaking to journalists during EU Day commemorations in Harare last week, Foreign Affairs and International Trade deputy minister Sheilla Chikomo said trade between Zimbabwe and the bloc had increased by 30%.
She said the partnership had also seen a 90% increase in foreign direct investment to Zimbabwe.
“It is something to be applauded and I am excited because today is a special day, and in 11 days we will be having a business forum. So this is a great milestone,” she said.
The first-ever European Union-Zimbabwe Business Forum is set for May 20-22 in Harare in partnership with the Zimbabwe Investment and Development Agency, ZimTrade and the Confederation of Zimbabwe Industries.
The forum will connect Zimbabwean and European investors, businesses and public institutions, offering a platform to explore new investment opportunities and strengthen economic ties.
Addressing a Press conference attended by ambassadors from EU member countries earlier, EU ambassador to Zimbabwe Jobst von Kirchmann said the forthcoming forum was a good moment to bring in European companies and show them the opportunities in the country.
“I often say, if a European company comes here, it's better to work together with a local company than have an individual investment, because you need to know the context, the cultural context, the language, among others.
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“So the purpose of this is to bring companies together. We have a platform where European companies can match Zimbabwean companies and hopefully have joint ventures,” he said.
He said European and Zimbabwean countries had indicated that they were interested in three principal value chains, which are agriculture, mining and renewable energy sectors.
In a statement, the EU reaffirmed an enduring partnership between Zimbabwe and the bloc, adding that it was grounded in mutual respect and a joint vision for a more prosperous, inclusive future.
“Europe is open to co-operation, to fair trade, and to a shared future that benefits us all. A shared future powered by a thriving EU and Zimbabwe private sector,” von Kirchmann said.
Trade between the EU and Zimbabwe has increased by over 30% since 2021, and investment has surged by 90% over the past three years, with the mission saying this was a clear indication of the EU’s focus on promoting private sector development and economic co-operation.
This year’s reception, held under the theme, Global Gateway: powered by the private sector, highlighted the pivotal role of EU’s Global Gateway initiative in mobilising sustainable public and private investment, including in Zimbabwe.
The initiative supports critical infrastructure, green transitions and inclusive growth, recognising the central role of the private sector in driving development.
