'Zimbabwe, EU ties to top US$1bn'

Trade and investment ties between Zimbabwe and the European Union (EU) are expected to exceed US$1 billion in the coming years, as both parties strengthen economic collaboration, EU Ambassador to Zimbabwe Jobst Von Kirchmann announced yesterday.

The ambassador made the remarks at the opening of the inaugural EU-Zimbabwe Business Forum, a three-day event taking place in Harare aimed at deepening bilateral trade and investment relations.

"Over the past three years, EU-Zimbabwe trade has grown by 30%, reaching US$880 million thanks to the Economic Partnership Agreement [EPA], while EU foreign direct investment has nearly doubled, now at US$870 million," said Von Kirchmann.

"I am confident that we are on the right path to hit the US$1 billion goal for both trade and investment with the EU."

Signed in 2009, the EPA grants Zimbabwe duty-free and quota-free access to EU markets. The forum, held under the theme "Unlocking Sustainable Trade and Investment Under the Global Gateway Initiative," aims to foster sustainable infrastructure development, inclusive economic growth, and job creation.

More than 300 business leaders, policymakers, and entrepreneurs from Zimbabwe and 12 EU member states - including France, Germany, Italy, Poland, Sweden, and the Netherlands - are attending. Over 60 European companies are meeting with more than 150 Zimbabwean firms through business-to-business meetings, dialogue panels, and field visits.

Von Kirchmann outlined the EU's strategic investment focus areas in Zimbabwe, including horticulture, agriculture and agro-processing, renewable energy, and mining value chains.

"Now is the time to invest in Zimbabwe. This is the moment to seize new opportunities. It is not blind optimism; it is grounded in the traction we are already seeing," he said. "The EU and Zimbabwe are no longer testing the waters. We are diving in."

The ambassador also revealed progress on a Deepened Economic Partnership Agreement involving Zimbabwe, Mauritius, Madagascar, Seychelles, and Comoros, which is nearing finalisation.

While expressing optimism, he urged transparency and realism when attracting investors. "When companies make decisions, they weigh potential returns against the risks. They are not seeking zero risk, but predictability."

He emphasized the need for accurate data and insights to guide investment decisions, rather than overselling or downplaying Zimbabwe's current challenges.

Zimbabwe's Foreign Affairs and International Trade Minister Amon Murwira, in remarks delivered on his behalf by a ministry official, hailed the forum as a sign of growing cooperation between the country and the EU.

"This forum is an opportunity to facilitate direct dialogue and networking between Zimbabwean businesses and their European counterparts," said Murwira. "It will serve as a catalyst for concrete partnerships, investments, joint projects, and the transfer of knowledge and skills."

Zimbabwe Investment and Development Agency (ZIDA) chief executive officer Tafadzwa Chinamo encouraged investors to explore opportunities in energy, agriculture, and mining — sectors with significant growth potential.

The forum, organised by the EU Delegation to Zimbabwe in partnership with ZIDA, ZimTrade, and the Confederation of Zimbabwe Industries, represents a bold step towards redefining Zimbabwe's place in the global investment landscape through sustainable, private sector-driven development.