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Ivan Zhakata
Herald Correspondent
Zimbabwe has reaffirmed its commitment to deepening and broadening trade and economic cooperation with the Republic of Korea.
Speaking at the 2024 Korea Festival held at Celebration Centre in Harare recently, Deputy Minister of Foreign Affairs and International Trade Sheillah Chikomo said they are optimistic that the Bilateral Investment Protection and Promotion Agreement (BIPPA) between Zimbabwe and the Republic of Korea that was concluded in April 2021, will give confidence to investors from the Republic of Korea that their investments are secure in Zimbabwe.
The Festival was attended by people from different backgrounds including senior Government officials, diplomats and captains of industries.
Deputy Minister Chikomo said she believed there was great potential to broaden and expand trade and economic cooperation between the two countries.
“I am pleased to note that at the 2024 Zimbabwe International Trade Fair, Korean businesses, through KOTRA (Korea Trade Investment Promotion Agency), participated alongside many other businesses, and companies from around the world,” she said.
“It is indeed in that same spirit that I wish to encourage more Korean business people to explore investment opportunities in agriculture, energy generation, ICT and AI, infrastructure development, mining and tourism. Beyond economic and political relations, we are confident that our two countries can cooperate closely through people-to-people exchanges and interactions, as we have seen today with the visit of the Korean-Pop and Korean National Taekwondo teams.
“We look forward to more such exchange visits, including cultural groups from Zimbabwe also going to the Republic of Korea to share their experiences, as cultural ambassadors. Zimbabwe also looks forward to mutual support on the multilateral level as we endeavour to build a harmonious world of enduring peace and prosperity for all while leaving no country behind.”
Deputy Minister Chikomo said Zimbabwe attached great importance to its bilateral relations with the Republic of Korea and seeks to establish a strategic partnership that is mutually beneficial to the two countries.
Ambassador of the Republic of Korea to Zimbabwe Jae Kyung Park said 2024 marked the 30th anniversary of diplomatic relations between Zimbabwe and Korea.
“For the past three decades, our two countries have developed friendly and cordial relations,” he said.
“And now we are starting a new chapter in bilateral ties towards more strengthened, more deepened and more widened cooperative partnership. President Mnangagwa’s visit to Korea in June this year also provided momentum for the new chapter.
“Zimbabwe has abundant critical minerals, and holds, in particular, the largest lithium deposits in Africa.
“This is the very potential for bilateral cooperation between Zimbabwe and Korea in transforming to a green economy in general and in building a supply chain of electric vehicle manufacturing.”
The Festival was characterised by performances from Korea-Pop group, a demonstration by Kukkiwon Taekwondo team, display of Korean cosmetic products (K-beauty), Korean foods (K-food) and Korean companies (KIA, Hyundai, LG).
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