Zimbabwe, EU celebrate growing trade

Zimbabwe and the European Union (EU) have marked a significant milestone in their growing economic partnership, with trade between the two entities increasing by 30% and foreign direct investment (FDI) surging by 90% in recent years.

At a press conference held during the EU Day celebrations in Harare last week, Zimbabwe's Deputy Minister of Foreign Affairs and International Trade, Sheilla Chikomo, expressed her excitement about the strong economic ties between the southern African nation and the European bloc. Chikomo highlighted the growing trade and investment, saying, "It is something to be applauded. I am excited because today is a special day, and in 11 days we will be having a business forum. This is a great milestone."

The announcement comes ahead of the inaugural European Union-Zimbabwe Business Forum, set to take place in Harare from May 20-22, 2025. The event is organized in partnership with the Zimbabwe Investment and Development Agency (ZIDA), ZimTrade, and the Confederation of Zimbabwe Industries (CZI). The forum will serve as a key platform for Zimbabwean and European investors, businesses, and public institutions to explore new investment opportunities and strengthen economic relations between the two regions.

EU Ambassador to Zimbabwe, Jobst von Kirchmann, addressed the press conference and emphasized the significance of the forum. "This is a good moment to bring European companies to Zimbabwe and show them the opportunities here," von Kirchmann said. "I often say, if a European company comes here, it's better to work together with a local company than have an individual investment because you need to understand the local context-language, culture, and market conditions."

The upcoming forum is expected to focus on three key sectors: agriculture, mining, and renewable energy. These sectors have been identified as areas with substantial growth potential for both Zimbabwe and European investors.

The EU reaffirmed its commitment to strengthening ties with Zimbabwe, with von Kirchmann stating that the partnership was based on mutual respect and a shared vision for a more prosperous and inclusive future. "Europe is open to cooperation, to fair trade, and to a shared future that benefits us all-a future powered by a thriving EU and Zimbabwe private sector," he said.

Trade between the EU and Zimbabwe has seen a steady rise, with EU-Zimbabwe trade increasing by over 30% since 2021. Additionally, foreign direct investment into Zimbabwe has surged by 90% over the past three years, a sign of the EU's continued focus on promoting private sector development and economic cooperation. The EU has been particularly supportive of Zimbabwe's efforts to boost infrastructure development and transition to more sustainable, green growth models.

This year's EU Day celebrations were held under the theme Global Gateway: Powered by the Private Sector, highlighting the central role of private investments in driving development. The EU's Global Gateway initiative supports sustainable infrastructure, green transitions, and inclusive growth, and is particularly active in Zimbabwe, where the private sector is seen as a key driver of economic progress.

The upcoming business forum is expected to strengthen these partnerships, paving the way for increased collaboration between Zimbabwe and the European Union in sectors critical to the country's economic growth.