‘EU business delegation to foster increased trade’

THE anticipated visit of a European Union business delegation to Zimbabwe next month could be a powerful economic springboard, positioning Zimbabwe’s private sector for greater influence in the EU market, a Cabinet minister has said.

The high-level business delegation will participate in business forum scheduled for May 20-22 in Harare.

With bilateral trade volumes currently standing at US$700 million and a trade balance in Zimbabwe’s favour, the EU is Zimbabwe’s fifth-largest trading partner and the leading destination for the country’s horticultural exports.

It is also the world’s single largest market with a unified market of 440 million consumers. The market is characterised by the free flow of goods, services, capital and people across the borders of member states.

Speaking during a media briefing at the closing of the Zimbabwe International Trade Fair on Saturday, Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu said Zimbabwe’s engagement and re-engagement drive under President Mnangagwa was gaining tangible momentum as reflected in the country’s strategic focus on the EU market.

“We are co-hosting the business conference with the European Union, and we really appreciate the approach they are taking. Our view is that this will have a high impact on our people.

“As we forge stronger partnerships and economic ties with the European Union, we see the private sector benefiting more from this,” said Minister Ndlovu.

He added: “We have lost substantial markets in the EU. While we still export to the EU, we want to be influential stakeholders in that trade. We have so many products that can easily penetrate the EU market.

The thawing of relations and rebuilding of friendships, spearheaded by President Mnangagwa’s engagement and re-engagement mantra, should see the private sector tapping into this.

Minister Ndlovu also expressed optimism that the renewed relationship could unlock vital financing for industry.

“We hope also that, going forward, we should be able to unlock some financing for the private sector. Admittedly, the issues of retooling and tooling our manufacturing sector remain critical and we will be elevating discussions to explore the possibilities arising from this growing partnership,” he said.

According to Minister Ndlovu, private sector representatives from the EU will visit Zimbabwe to engage directly with local businesses through Business-to-Business (B2B) meetings to foster investment and trade collaborations.

Commenting on the development, economist Mr Nicholas Dube said Zimbabwe’s foreign policy had effectively repositioned the country towards economic growth.

“President Mnangagwa’s Government has strategically placed economic diplomacy at the centre of its foreign policy, seeking to open new markets for Zimbabwean goods and attract foreign direct investment,” Mr Dube noted.

“The re-engagement with the EU is a cornerstone of this approach, allowing Zimbabwean industries greater access to one of the world’s largest and most sophisticated markets.

By securing new export markets and partnerships, Zimbabwe aims to diversify its economy, strengthen its manufacturing sector and increase its global competitiveness.”

Mr Dube added: “The positive momentum witnessed at ZITF 2025 is not just a passing event, it is a clear indication that Zimbabwe’s economic renaissance is taking shape, driven by smart diplomacy, robust industrialisation policies and a renewed commitment to global integration.”-herald