Zimbabwe’s engagement and re-engagement drive continues to bear fruit after the United Kingdom invited local businesses to participate in next week’s Africa Investment Conference along with companies from 35 other African countries.
The key investment conference is organised by the UK’s
Department for International Trade and will be held virtually on January 20
because of Covid-19. The British embassy in Harare yesterday confirmed the
invitation of Zimbabwe.
“Attending will be business across Zimbabwe industry
including large and small firms in finance, agriculture, renewable energy and
other key sectors,’’ said the embassy.
Acting Minister of Foreign Affairs and International Trade
Professor Amon Murwira hailed the gesture, saying relations between Zimbabwe and
the UK were improving.
“As you know, Zimbabwe is a friendly country. We believe
our relationship with the United Kingdom is very good and it is improving every
day.”
He encouraged the local business community to take part in
the international investment conference to unlock opportunities for growth.
“We believe that it is important in the spirit of His
Excellency’s foreign policy of Zimbabwe is Open for Business, that we
participate in international business conferences so that we get opportunities
for Zimbabwe as well as improve our trade ties with our partners in the world,”
said Minister Murwira.
UK Department for International Trade’s representative for
Africa Ms Emma Wade-Smith said the investment conference was meant to bring
together UK-African businesses to discuss emerging and relevant themes around
doing business in Africa and to connect UK companies to opportunities of today
and tomorrow across the continent.
She said despite the current global economic context, the
UK’s ambition to be Africa’s investment partner of choice had never been
stronger, and strengthening investment relationships would be central in
recovering from the disruption caused by the Covid-19 pandemic.
Ms Wade-Smith was announced as Her Majesty’s Trade
Commissioner (HMTC) for Africa in June 2018. She has lived and worked in South
Africa since 2016, following her appointment as the UK’s Trade Director for
Southern Africa.
She has also worked on international trade at the UK’s
Department for Business, Innovation and Skills. Prior to working on trade and
investment, she had a distinguished career as a British diplomat, spanning more
than two decades.
The Africa Investment conference will explore how
inclusive, sustainable and resilient investment can help Africa transition to a
cleaner, greener growth trajectory, in particular as it seeks to build back
better from Covid-19.
The conference will make the case for a strengthened,
closer collaboration and partnership between the UK and Africa, highlighting
the UK Department for International Trade’s support that is available to
business and driven by the insights of the recently established Africa
investors Group.
The conference will have a focus around four key sectors of
activity and will showcase UK capability and the emerging opportunities across
Africa in Sustainable Infrastructure, Renewable Energy, Financial and
Professionals Services, Agriculture and Agri-Tech.
Last year Zimbabwe ratified an Economic Partnership
Agreement (EPA) with the UK.
“Following the end of the transition period, the EPA now
allows Zimbabwean exporters to continue to enjoy tariff and quota-free access
to the UK market, laying the foundation for a strong trade partnership in the
future,” said UK Ambassador to Zimbabwe Ms Melanie Robinson after ratification
of the agreement.
Also speaking after the ratification of the EPA, Foreign
Affairs and International Trade Minister, Dr Sibusiso Moyo said the
ratification of the deal was a big step in the country’s re-engagement efforts.
“This is a huge step for Zimbabwe’s re-engagement efforts.
The signing of this partnership will undoubtedly bring increased trade and
investment to Zimbabwe,” said Dr Moyo.
The EPA with Britain, ratified last October, allows
Zimbabwean exporters access to UK markets free of tariffs and quotas and is
expected to boost trade and investment between the two countries as
Government’s re-engagement drive continues to bear fruit.
The ratification of the EPA follows the withdrawal of the
UK from the European Union, meaning it can no longer trade under the Eastern
and Southern Africa-EU EPA.
Last year, South Africa, Botswana, Namibia, Eswatini,
Lesotho and Mozambique signed the same EPA trade deal with the UK.
The development comes as the two countries’ diplomatic ties
intensify, which dovetails into President Mnangagwa engagement and
re-engagement drive.
The total trade in goods and services — both exports and
imports — between Britain and Zimbabwe in the four quarters to end of the
second quarter of 2020 was US$412m.
Britain voted to leave the EU following a referendum held
in June 2016 and has since been negotiating separate trade deals.
Confederation of Zimbabwe Industries (CZI) president Mr
Henry Ruzvidzo said the UK has been always a major trading partner with
Zimbabwe.
“We are encouraged with the relationship currently taking
place. It’s really encouraging. Britain has always been a major partner with
Zimbabwe,” said Mr Ruzvidzo.
The Zimbabwe National Chamber of Commerce (ZNCC) chief
executive officer Mr Takunda Mugaga
welcomed the development but bemoaned the sanctions against Zimbabwe which he
said were a major drawback to Zimbabwe’s investment opportunities.
“Of course it’s a great platform. Unfortunately, the divide
and rule tactics by the London administration are not helping matters as they
can only weaken the newly established African Continental Free Trade Area
(ACfTA).
“Our wish is to see Africa using the ACFTA engaging UK as a
bloc not as individual states.
“The culture of bilateral agreements is further dampening
prospects of regional integration while at the same time, further delaying the
works on designing of Rules of Origin agreements amongst African states,” said
Mr Mugaga. Herald
0 comments:
Post a Comment