EU Ambassador Sees Bright Future for Zimbabwean-EU Trade Ties

The European Union (EU) Ambassador to Zimbabwe, Jobst von Kirchmann, today expressed optimism about the country’s trade prospects with the European Union, citing significant growth in bilateral trade and investment.

The diplomat was speaking during a three-day bilateral business forum in Harare themed “Unlocking Trade and Investment Under the Global Gateway”.

According to Ambassador von Kirchmann, trade between the EU and Zimbabwe has increased by 30% over the past three years, reaching $880 million, a testament to the EU’s trade agreement allowing Zimbabwean companies to export duty-free and tariff-free products. Foreign direct investment from the EU has also surged to $870 million.

Addressing delegates, Ambassador von Kirchmann noted that the EU and Zimbabwe are working towards a Deepened Economic Partnership Agreement, which could further boost trade and investment.

He expressed hope that Zimbabwe would swiftly conclude the ongoing negotiations.

The ambassador appreciated the presence of local partners ZIDA, CZI, and Zimtrade at the forum, thanking them for their cooperation in identifying promising value chains in agriculture, renewable energy, and mining.

The three-day forum, attended by 60 EU companies and 150 local companies, will conclude on Thursday. Government officials, financiers, regulators, and development partners are also participating in the program.