EU business delegation Zim-bound

Nqobile Bhebhe

Zimpapers Business Hub

THE impending visit by a European Union business delegation to Zimbabwe next month could be a powerful economic springboard, positioning the private sector for greater influence in the EU market, a Cabinet Minister has said.

The high-level business forum is scheduled for 20–22 May in Harare.

With bilateral trade volumes standing at US$700 million and a trade balance in Zimbabwe’s favour, the EU is Zimbabwe’s fifth-largest trading partner and the leading destination for the country’s horticultural exports.

Speaking at a media briefing at the close of the Zimbabwe International Trade Fair on Saturday, Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu said Zimbabwe’s engagement and re-engagement drive under President Emmerson

Mnangagwa was gaining tangible momentum as reflected in the country’s strategic focus on the EU market.

“We are co-hosting the business conference with the European Union, and we really appreciate the approach they are taking. Our view is that this will have a high impact on our people. As we forge stronger partnerships and economic ties with the European

Union, we see the private sector benefiting more from this,” said Minister Ndlovu.

He added: “We have lost substantial markets in the EU. While we still export to the EU, we want to be influential stakeholders in that trade. We have so many products that can easily penetrate the EU market.

“The thawing of relations and rebuilding of friendships, spearheaded by President Mnangagwa’s engagement and re-engagement mantra, should see the private sector tapping into this.”