Business / Economy
Zimbabwe signs BIPPA with Russian
08 Oct 2012 at 04:30hrs | Views
Economic cooperation between Zimbabwe and the Russian Federation is set to intensify through further enhancement of conditions for investment and trade.
This follows the signing of the Bilateral Investment Protection and Promotion Agreement (BIPPA) between the two countries in Harare this Sunday evening.
The agreement was signed by the visiting Russian Deputy Minister of Economic Development, Mr Leonid Osipov and Zimbabwe's Minister of Economic Planning and Investment Promotion, Mr Tapiwa Mashakada.
The agreement is expected to further stimulate investment and trade between the two countries and to enhance investor confidence in the two countries' economies as safe and viable investment destinations.
Addressing the delegation of Russian business people and Zimbabwean officials who witnessed the signing ceremony, Minister Mashakada said Zimbabwe will draw a lot of lessons Russia, which is has been registering significant growth and performance in the last few years.
Russia's Minister of Economic Development, Mr Manturov, who is leading a delegation of 20 business entrepreneurs, said with through business councils that have been set up in both countries, Russia is ready to partner Zimbabwe in various sectors including mining, energy, petroleum, construction and others.
Russia is currently into gold and diamonds mining in Penhalonga and Chimanimani and trade between that country and Zimbabwe has been rising steadily over the last few years.
This follows the signing of the Bilateral Investment Protection and Promotion Agreement (BIPPA) between the two countries in Harare this Sunday evening.
The agreement was signed by the visiting Russian Deputy Minister of Economic Development, Mr Leonid Osipov and Zimbabwe's Minister of Economic Planning and Investment Promotion, Mr Tapiwa Mashakada.
Addressing the delegation of Russian business people and Zimbabwean officials who witnessed the signing ceremony, Minister Mashakada said Zimbabwe will draw a lot of lessons Russia, which is has been registering significant growth and performance in the last few years.
Russia's Minister of Economic Development, Mr Manturov, who is leading a delegation of 20 business entrepreneurs, said with through business councils that have been set up in both countries, Russia is ready to partner Zimbabwe in various sectors including mining, energy, petroleum, construction and others.
Russia is currently into gold and diamonds mining in Penhalonga and Chimanimani and trade between that country and Zimbabwe has been rising steadily over the last few years.
Source - Zbc
