Zimbabwe eyes Russian market through new five-year agreement

ZIMBABWE has signed a five-year co-operation agreement with Russia’s Roscongress Foundation at the St Petersburg International Economic Forum (SPIEF), national trade development and promotion organisation ZimTrade has revealed.

The agreement comes at a time when Zimbabwe’s exports to Russia are reported to have surged by 80 percent.
SPIEF, one of the world’s largest economic forums often referred to as “Russia’s Davos”, ran from June 3 to 6.
The forum brought together more than 24 000 business leaders, investors, exporters and companies from over 140 countries.

SPIEF 2026 was held against the backdrop of significant shifts in the global economy, driven by rapid technological transformation, the transition towards sustainable development and the emergence of new financial models.

The forum provides a key platform for dialogue among governments, business leaders and economic experts, where practical solutions are crafted to promote sustainable growth and strengthen international co-operation.
ZimTrade chief executive officer Mr Allan Majuru and Roscongress Foundation chairman and chief executive officer

Mr Alexander Stuglev signed the five-year agreement between ZimTrade and the organisers of SPIEF, the Roscongress Foundation.

“For Zimbabwean exporters and investors, SPIEF is a key platform to meet buyers and partners to get direct access to Russian and Eurasian markets. It is also a platform to showcase products from agriculture, mining inputs, manufacturing, and tourism players in Zimbabwe,” Mr Majuru said.

SPIEF also provides insights into trade, investment, finance and emerging sectors driving demand in Russia and across the Global South.

The Roscongress Foundation is a socially oriented non-financial development institution and one of the leading organisers of international conventions, exhibitions, business, social, sporting and cultural events.

Mr Majuru said the agreement creates a formal channel for Zimbabwean businesses to participate in SPIEF, Roscongress events and other economic activities of interest in Russia.
Under the agreement, ZimTrade and Roscongress will work together to facilitate new partnerships between

Zimbabwean and Russian companies, focusing on export and import opportunities.
“Apart from business matchmaking, both parties will organise and co-promote business forums, roundtables, conferences and exhibitions on trade and economic issues. ZimTrade will get access to market information and opportunities through Roscongress,” Mr Majuru added.
Zimbabwean companies and products will also be promoted to Russian business networks.
Joint promotional campaigns will be undertaken to market Zimbabwean products to Russian business audiences through targeted media platforms.

Under the capacity-building component of the agreement, priority will also be given to mutual consulting as well as expert support on economic and trade matters.
Explaining the significance of the pact for local firms, Mr Majuru described the agreement as a framework for unlocking access to the Russian market for Zimbabwean businesses.

“Zimbabwean companies can now get facilitated access to SPIEF, Roscongress business events and other activities of interest in Russia.

“They will also receive direct information on Russian market opportunities and be part of coordinated Zimbabwe pavilions/exhibitions at major Russian trade events.

“The agreement also connects Zimbabwean companies with potential Russian buyers through structured business-to-business sessions,” he said.
Meanwhile, data from the Zimbabwe National Statistics Agency (ZimStat) shows that Russia ranked among Zimbabwe’s top 20 export destinations last year.
Zimbabwe’s exports to Russia increased by 80 percent to US$2,4 million last year, from US$1,3 million in 2024.
Statistics from the International Trade Centre (ITC)-managed Trade Map online database show that tobacco and manufactured tobacco substitutes, whether or not containing nicotine, were the country’s leading export category to Russia, generating US$2,27 million.

The category was followed by works of art, collectors’ pieces and antiques, which earned US$83 000.

Trade Map data also shows that Zimbabwe imported goods worth US$42 million from Russia, with fertiliser accounting for the largest share at US$35 million, followed by cereals valued at US$5 million.