Online Reporter
Ivan Zhakata
Herald Correspondent
THE European Union has reaffirmed its commitment to deepening trade and investment ties with Zimbabwe, with bilateral trade volumes now edging towards US$1 billion.
This comes as the EU returned to the Zimbabwe International Trade Fair (ZITF) for the fourth consecutive year under the Team Europe banner, showcasing an expanded presence of member states, businesses and development partners.
EU Ambassador to Zimbabwe Katrin Hagemann said the bloc’s partnership with Zimbabwe was delivering tangible economic benefits, with trade reaching US$919 million last year.
“Our partnership delivers real results. With trade reaching US$919 million last year, we are closing in on the US$1 billion mark — driving jobs and growth,” she said.
The strong trade performance is anchored on the Economic Partnership Agreement (EPA), which grants Zimbabwean exports duty-free and quota-free access to the EU market.
The EU remains Zimbabwe’s largest market for horticultural produce, accounting for over 40 percent of exports such as blueberries, oranges and sugar snap peas.
Despite Zimbabwe maintaining a positive trade balance of US$328 million, only about 200 local companies are currently exporting to the EU, signalling significant room for growth.
To unlock this potential, the EU is set to roll out a €7,8 million capacity-building programme targeting the horticulture sector to support more exporters.
In addition to trade, the EU has extended more than US$100 million in financing to local banks over the past five years through institutions such as the European Investment Bank and PROPARCO.
The funds have been channelled through commercial banks, including CABS, FBC, NMB and Stanbic, to support private sector development, job creation and financial inclusion.
The EU-Zimbabwe partnership also spans key sectors such as agriculture, climate action, biodiversity conservation and women and youth empowerment under initiatives like the Global Gateway.
At this year’s ZITF, the Team Europe Pavilion served as a hub for engagement, offering businesses, entrepreneurs and youths access to information on export requirements, technical support and investment opportunities.
The EU said its continued participation at ZITF reflects its long-term commitment to supporting Zimbabwe’s vision of attaining upper-middle-income status by 2030.
