Online Reporter
Sikhulekelani Moyo
Bulawayo Bureau
THE Confederation of Zimbabwe Industries (CZI) has signed a memorandum of understanding (MoU) with the Federation of Indian Chambers of Commerce and Industry (FICCI) to pave the way for collaboration in different economic sectors.
This development is part of the country’s drive to tap into India’s technological advancements as the nation forges towards developing the country into an upper-middle-income economy by 2030.
Signed during the recently ended Zimbabwe International Trade Fair (ZITF), the MoU between CZI and FICCI builds on CZI’s longstanding engagement with India, which includes an existing MoU with the Confederation of Indian Industry (CII).
In 2018, CZI signed an MoU with the CII to enhance production and trade relations between the two countries.
The MoU also seeks to enhance economic relations and propose to the respective governments measures and mechanisms to promote exports based on mutual interests to avoid any imbalances, which may affect the relationships between India and Zimbabwe
“As part of our ZITF 2025 engagements, the Confederation of Zimbabwe Industries (CZI) signed a new Memorandum of Understanding (MoU) with the Federation of Indian Chambers of Commerce and Industry (FICCI), India’s premier business organisation,” said CZI on its LinkedIn post.
“Over the past two years, CZI has hosted Indian business delegations to Zimbabwe and sent representatives to India. We have also engaged with Startup India to help shape our current work on entrepreneurship and startups.”
“The new MoU with FICCI opens further pathways for collaboration in manufacturing, agro-processing, mining, and energy, unlocking new opportunities for our members and the broader business community.”
As Zimbabwe’s largest business membership organisation, CZI continues to exploit all avenues, including signing MoUs with different countries and other key stakeholders, to promote trade and investments.
The positive international responses come at a time when President Mnangagwa’s re-engagement initiatives are bearing fruit, which has seen an increase in foreign investments.
