Online Reporter
Peter Matika
Senior Reporter
A DELEGATION of seven ambassadors from the European Union (EU) will this week visit Bulawayo for key investment talks as the bloc commits to restoring investment and trade relations with Zimbabwe, demonstrated by the increased participation at the ongoing Zimbabwe International Trade Fair (ZITF).
The engagements will be followed by the launch of the first-ever EU-Zimbabwe Business Forum aimed at consolidating win-win private sector partnerships and bolstering mutually beneficial trade gains.
The forum is pencilled for May 20 to 22 in Harare.
The development reflects positively on the Second Republic’s economic diplomacy-focused “Engagement and Re-Engagement Policy” which has seen Zimbabwe normalise relations with the global community.
The increased EU presence at ZITF also underscores a broad, collaborative effort to accompany Zimbabwe towards its ambition of becoming an upper-middle income society by 2030.
The EU is at ZITF for the third consecutive year, with its now-flagship pavilion being one of the largest international stands.
Following two consecutive wins for “Best and Most Outstanding Foreign Display”, the EU says its return to ZITF this year is significant in showcasing a “strengthened focus” on private-sector partnerships and sustainable investment under the Global Gateway Strategy.
EU Ambassador to Zimbabwe, Mr Jobst von Kirchmann, expressed excitement over the bloc’s return to ZITF.
“Private sector engagement is vital to every economy. Through our Global Gateway strategy, the EU has placed business development at the core of economic development, job creation and prosperity,” he said.
Building on the success of 2024, the EU said its pavilion features an expanded “#TeamEurope” presence, with contributions from several EU member states, including France, Germany, Italy, Sweden, Romania, Netherlands, Belgium representing European member states, European businesses and implementing partners.
“The EU stand also hosts various #TeamEurope projects underway in Zimbabwe,” it said in a statement.
“This year during ZITF week, the EU launches a new phase of its Global Gateway campaign with the theme ‘SILANI, TINEMI, EU WITH YOU’ that will raise awareness on the impact of the Global Gateway initiatives falling under the theme: ‘The European Union and Zimbabwe partnering for inclusive and sustainable business development’.”
In line with this year’s ZITF theme: “Industrialisation: Crafting an Integrated Economic Landscape”, the EU said the ZITF thrust closely aligns with the bloc’s commitment to inclusive and sustainable business development in Zimbabwe.
“It also reinforces the shared ambition to promote an integrated and competitive economic landscape goals that are central to Zimbabwe’s National Development Strategy 1 (NDS1) and Vision 2030,” said the EU.
“In this context, the EU’s increased focus on private sector engagement, highlighted at this year’s Pavilion, sets the stage for meaningful cooperation, ahead of the first ever upcoming EU-Zimbabwe Business Forum to be held from May 20–22, 2025 in Harare, which will convene public and private sector stakeholders to unlock further investment opportunities.”
In tandem with the improving diplomatic relations between the two partners, the EU has vowed to continue its long-term commitment to growing investments in the private sector through intermediate lending facilities.
For instance, in the last three years, the EU said it has extended financing to Zimbabwean commercial banks by EU financial institutions (European Investment Bank) and Proparco) to about €90 million comprising intermediate credit facilities, portfolio guarantees, and trade finance.
“This partnership between the EU and Zimbabwean banks is a prime example of our collective efforts to create jobs, promote financial inclusion and ultimately contribute to sustainable economic growth,” said the bloc.
Furthermore, the EU-Zimbabwe Economic Partnership Agreement (EPA) and the EU’s Global Gateway, offer a framework for increased trade and investment, which presents a great opportunity to Zimbabwean companies who have the possibility to export to the EU on a 100 percent duty-free, quota-free basis.
The agreement offers Zimbabwean companies the possibility to modernise and transform their manufacturing processes through the importation of machinery duty-free from Europe, while allowing Zimbabwean companies to export duty and tariff free to the EU.
With a trade volume of US$700 million, and a positive trade balance in favour of Zimbabwe, this is a significant area of cooperation as the EU represents Zimbabwe’s fifth-largest trading partner and number one destination for horticultural exports, said the bloc.
“In a common space, the EU will feature information about the European Union’s trade and investment opportunities in Zimbabwe alongside other EU member States, this year being Italy, France, The Netherlands, Sweden, Germany, Romania and Belgium,” it said.
As the ZITF progresses, the EU has said its Pavilion will be a meeting and exchanging point between European and Zimbabwean stakeholders on trade and investment where visitors can access information on: export requirements, support to agriculture machinery imports, technical assistance, lending facilities with the European Investment Bank, as well as locating European business partners and exploring new markets.
“The potential for growth of trade between Zimbabwe and the EU is substantial, and visitors to the #TeamEurope stand will gain valuable insights into maximizing the benefits of current free trade arrangements and much more,” said the bloc.
“The EU Pavilion will also come alive with a series of interactive activities and engagements led by the EU delegation’s Global Gateway Ambassadors. The #TeamEurope Pavilion also promises to be a dynamic hub for strengthening Zimbabwe-EU trade and investment links.”
