Zim-EU economic partnership evolves

Mukudzei ChingwereHerald ReporterThe relationship between the European Union (EU) and Zimbabwe continues to evolve, with a growing emphasis on shared economic interests and collaborative development.This was highlighted by outgoing EU Ambassador to Zimbabwe, Jobst von Kirchmann, after paying a courtesy call on Vice President Dr Constantino Chiwenga in Harare yesterday.Addressing the media, Amb von Kirchmann noted a marked shift in EU-Zimbabwe relations towards a partnership-based approach, especially in the area of trade and investment.The discussions with the Vice President centred on initiatives aimed at fostering inclusive and sustainable business development, an area both parties view as critical for future cooperation.A key driver of this strengthened engagement is the EU-Zimbabwe Economic Partnership Agreement, which allows Zimbabwean companies to export goods to the EU duty-free and tariff-free.The EU remains one of the largest trading blocs in the world and this agreement has unlocked significant opportunities for Zimbabwean businesses.In the last three years, trade between the EU and Zimbabwe has increased by 30 percent, reaching US$881 million annually.At the same time, foreign direct investment from the EU has surged by 90 percent, hitting a similar figure of $880 million.“When I look back, I can say that relations have improved significantly. We now have very good relations and we work closely together,” said Amb von Kirchmann.“There are a couple of ingredients which have made this possible, the first one is that the European Union has an economic partnership agreement with Zimbabwe, that is a free trade agreement.“I think it is something beautiful to say that any Zimbabwean company can export duty-free and tariff-free to the biggest trading bloc in the world, the European Union.“As an Ambassador you do not only want to see initiatives but results and one thing that I am personally proud of is that the trade.“In the last three years I was here (trade) has increased by 30 percent to US$881 million per year and foreign direct investment from the European union increased by 90 percent to a similar figure US$880 million.“I am personally proud of these results and I hope we will soon reach the US$1 billion mark.”He attributed this growth to enhanced cooperation, underpinned by the trade agreement and a mutual commitment to sustainable development.Amb von Kirchmann also pointed to the successful hosting of the first-ever EU-Zimbabwe Business Forum, which drew hundreds of companies interested in forming joint ventures.The forum, he said, demonstrated European investors’ increasing interest in Zimbabwe’s market and set the stage for deeper economic ties.He stressed the importance of focusing on shared goals, even when differences arise.“If you have some areas where you might disagree, that is normal. We should not concentrate solely on these issues,” he said.“All the bridges we can build together and I hope these efforts will continue on both sides to focus on what builds us.“The relationship between European and Zimbabwe is multifaceted, and we were talking about the multiple trade ties, the multiple investment ties on the economic agenda.”Share on FacebookPost on XFollow usSave

Originally published on Zimbabwe Herald

Source: Zimbabwe Herald

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