Govt, private sector urged to co-operate to revive economy

Business Correspondent
THE Head of the European Union (EU) Delegation to Zimbabwe Ambassador Aldo Dell’ Ariccia says the country’s private business sector and the Government should continue to work together and revive the economy. Ambassador Dell’ Ariccia said it was imperative that the private sector and the Government share a common vision to revive the country’s economy.

“There is need for co-operation between the private sector and the Government in order to achieve economic prosperity,” said in an interview with Chronicle Business in Bulawayo recently.

He said so far the new Government’s had shown commitment in working with private sector to ensure that the country’s economy was back on track.

Ambassador Dell’ Ariccia reiterated the need for the country to maximise benefits from its mineral and natural resources through value addition.

“The raw materials that are of the benefit to the country and an input to the industry must be value-added instead of exporting them in raw form or as semi-finished products,” said the EU official.

Ambassador Dell’ Ariccia said Zimbabwe had the potential of being one of the strongest economies in the region and in the whole of Africa because it’s vast resources.

Zimbabwe has vast minerals such as gold, chrome, diamonds, platinum, iron and many others that are not being fully maximised through value addition.

The country’s diamonds are reportedly creating thousands of jobs in countries like India, Israel and other countries that do not even have a single mine.

He said trade between Zimbabwe and the EU was increasing since 2009.
“Trade between Zimbabwe and EU has from 2009 and 2012 doubled. It’s healthy and improving as you know there has been a general slowdown in the economy and it had affected the trade between Zimbabwe and EU but now it’s improving,” he said.

He said currently the balance of trade was in favour of Zimbabwe.
“The country is exporting to the EU much more than it is importing,” he said, although he could not give figures at hand.

The main products exported from Zimbabwe to the EU are ferro-chromium, raw cane sugar, tobacco, non-industrial and industrial diamonds, refined copper, raw hides, citrus, cut flowers and vegetables, granite, cotton and partially fermented tea and leather.

From EU, Zimbabwe imports mainly cars, transport equipment, machinery and chemicals.