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Zimbabwe-UAE trade set to hit US$6 billion
2 hrs ago |
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President Emmerson Mnangagwa says Zimbabwe's engagement and re-engagement policy continues to strengthen international economic ties, with trade between Zimbabwe and the United Arab Emirates expected to reach US$6 billion by the end of the year.
The remarks came after outgoing UAE Ambassador to Zimbabwe, Jassim Mohammed Al Qasimi, paid a farewell courtesy call on the President at State House in Harare.
Posting on his X account following the meeting, Mnangagwa said relations between the two countries had expanded significantly across several sectors during Ambassador Al Qasimi's tenure.
"During his tenure, the bilateral and economic relations between Zimbabwe and the UAE experienced significant growth across key sectors such as trade, mining and agriculture," Mnangagwa said.
"Our engagement and re-engagement policy has been instrumental in fostering strong global partnerships.
"I commended Dr Al Qasimi for his dedicated service, which has contributed substantially to the mutual growth of our nations and I wish him success in his future endeavours."
Ambassador Al Qasimi, who served in Zimbabwe for nearly seven years, said he had witnessed continued economic growth and expanding co-operation between the two nations.
"I find increasing cooperation from the Government in different sectors and I hope for the best for Zimbabwe. About our relationship, it is growing, especially in the economy and we do a lot of projects in Zimbabwe," he said.
He revealed that bilateral trade volumes exceeded US$5 billion in 2025 and are projected to rise to US$6 billion this year.
The United Arab Emirates has emerged as Zimbabwe's leading export destination, accounting for 50 percent of the country's export earnings by value during the first quarter of 2026.
According to figures released by Zimbabwe National Statistics Agency, Zimbabwe earned US$2.77 billion from worldwide exports during the first quarter of the year.
Of that amount, exports to the UAE contributed US$1.401 billion.
Exports to the UAE have risen sharply over recent years, increasing from US$2 billion in 2023 to US$5 billion in 2025.
The UAE has now overtaken South Africa as Zimbabwe's biggest export market.
Minerals, tobacco and horticultural products remain Zimbabwe's major exports to the Gulf nation.
Zimbabwe's imports from the UAE declined by 16 percent, falling to US$226 million in 2025 from US$304 million in 2024.
As a result, Zimbabwe's trade surplus with the UAE surged by 85 percent to US$4.5 billion last year, compared to US$2.4 billion in 2024.
Data from the International Trade Centre TradeMap database showed that gold remained Zimbabwe's dominant export to the UAE, with unwrought and semi-manufactured gold exports valued at US$4.5 billion in 2025.
Unmounted diamonds generated US$99 million, while unprocessed tobacco and tobacco refuse earned US$134 million.
Manufactured tobacco products accounted for US$1.3 million, while fresh strawberries, raspberries, blackberries and gooseberries exported to the UAE generated US$357 000.
The remarks came after outgoing UAE Ambassador to Zimbabwe, Jassim Mohammed Al Qasimi, paid a farewell courtesy call on the President at State House in Harare.
Posting on his X account following the meeting, Mnangagwa said relations between the two countries had expanded significantly across several sectors during Ambassador Al Qasimi's tenure.
"During his tenure, the bilateral and economic relations between Zimbabwe and the UAE experienced significant growth across key sectors such as trade, mining and agriculture," Mnangagwa said.
"Our engagement and re-engagement policy has been instrumental in fostering strong global partnerships.
"I commended Dr Al Qasimi for his dedicated service, which has contributed substantially to the mutual growth of our nations and I wish him success in his future endeavours."
Ambassador Al Qasimi, who served in Zimbabwe for nearly seven years, said he had witnessed continued economic growth and expanding co-operation between the two nations.
"I find increasing cooperation from the Government in different sectors and I hope for the best for Zimbabwe. About our relationship, it is growing, especially in the economy and we do a lot of projects in Zimbabwe," he said.
He revealed that bilateral trade volumes exceeded US$5 billion in 2025 and are projected to rise to US$6 billion this year.
The United Arab Emirates has emerged as Zimbabwe's leading export destination, accounting for 50 percent of the country's export earnings by value during the first quarter of 2026.
Of that amount, exports to the UAE contributed US$1.401 billion.
Exports to the UAE have risen sharply over recent years, increasing from US$2 billion in 2023 to US$5 billion in 2025.
The UAE has now overtaken South Africa as Zimbabwe's biggest export market.
Minerals, tobacco and horticultural products remain Zimbabwe's major exports to the Gulf nation.
Zimbabwe's imports from the UAE declined by 16 percent, falling to US$226 million in 2025 from US$304 million in 2024.
As a result, Zimbabwe's trade surplus with the UAE surged by 85 percent to US$4.5 billion last year, compared to US$2.4 billion in 2024.
Data from the International Trade Centre TradeMap database showed that gold remained Zimbabwe's dominant export to the UAE, with unwrought and semi-manufactured gold exports valued at US$4.5 billion in 2025.
Unmounted diamonds generated US$99 million, while unprocessed tobacco and tobacco refuse earned US$134 million.
Manufactured tobacco products accounted for US$1.3 million, while fresh strawberries, raspberries, blackberries and gooseberries exported to the UAE generated US$357 000.
Source - The Herald
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