admin
Zvamaida Murwira in Victoria Falls
THE Speaker of National Assembly Cde Jacob Mudenda has commended Zimbabwe’s delegation to the African Caribbean and Pacific European Union Joint Parliamentary Assembly for working vigorously for the removal of trade sanctions against Zimbabwe.Cde Mudenda singled out ACP-EU Zimbabwe’s head of delegation Cde Makhosini Hlongwane for putting up a fight by lobbying ACP countries to denounce sanctions against Zimbabwe something that contributed in removal of trade sanctions last week.
Cde Mudenda said this here while delivering his key-note address on a pre-budget consultative conference being attended by Members of Parliament, captains of industry and Government ministers.
“I would like to commend Honourable Hlongwane who through his relentless efforts through ACP saw the removal of trade sanctions. We have successfully championed the removal of trade sanctions. Thank you very much for your diplomatic manoeuvres. The delegation have been the foot-soldiers of the President,” said Cde Mudenda.
“We also say that sanctions against the First Family must crumble like the Berlin wall.”
The EU announced last week that it had removed trade sanctions against Harare but maintained an embargo against President Mugabe and First Lady Cde Grace Mugabe until February next year when the Western bloc would review them.
In his address, Finance Minister Patrick Chinamasa weighed in saying during his engagement with the United States they did not deny the existence of the illegal sanctions but instead said they would need the concurrence of their parliament for their removal.
“There’s also the stigma that goes with sanctions by those that haven’t imposed sanctions on Zimbabwe. I’ve engaged the US Treasury and told them to lift them. They haven’t denied that they’re there but they said they would need approval from Congress. Sanctions are real,” said Minister Chinamasa.
In his contribution, Cde Hlongwane told Reserve Bank of Zimbabwe Governor Dr John Mangundya that it was not prudent to use the United States dollar as the anchor currency in the wake of the effects of illegal sanctions on trade.
He said people had lost money after it was frozen by the US’s Office of Foreign Assets Company.
Dr Mangundya said the United States had no monopoly over the use of the currency.
“The US dollar is the international reserve currency. Many countries export to get the US dollar. What we need is to attract Foreign Direct Investment,” said Dr Mangundya.
Cde Hlongwane, who is also Co-President of the Standing Committee on Political Affairs of the ACP-EU JPA, welcomed the decision by the European Union to lift trade sanctions.
“The Head of Delegation wishes to advise the private sector to immediately take advantage of this full lifting of Article 96 sanctions by engaging with the European Investment Bank through proper laid down procedures, and exploring the Investment Facility available under the Cotonou Partnership Agreement.
“The Investment Facility which is in Article 76 and Annex 11(read as 2) of the Cotonou Partnership Agreement provides for several facilities for private sector,” he said.
Some of them include ordinary loans, guarantees credit enhancement to cover investment related risks.
Other facilities are provision of risk capital in the form of equity participation in Zimbabwean enterprises including Financial Institutions, and quasi capital assistance to Zimbabwean enterprises including Financial Institutions.
Online Reporter