Michael Tome — Business Reporter
Zimbabwe has pledged to render all the necessary assistance to investors from the United Arab Emirates (UAE), as they explore more trade and investment opportunities in the country.
The pledge was made by Secretary for Foreign Affairs and International Trade Ambassador Albert Chimbindi while addressing delegates at the Zimbabwe -UAE Business Forum held in the capital Harare on Tuesday.
The Zimbabwe-UAE Business Forum is one of the initiatives designed to solidify the strategic and growing economic relations between the two countries.
Tuesday's business forum was a reciprocal exchange of visits between the two friendly nations, following similar undertakings by Harare to promote trade and investment ties.
Several UAE-based entities from diverse sectors were in the country on Tuesday to scout for further potential investment opportunities.
Targeted sectors include satellite communications, agri-commodities, vegetables and fruit trading, foodstuffs, tea companies, halal trade and marketing.
Statistics show that trade between Zimbabwe and UAE has been growing exponentially over the past few years.
Exports to the UAE have increased from US$96 million in 2024 to US$1,9 billion.
Zimbabwe's imports from the UAE include fertilisers, electrical equipment and gadgets, clothing and textiles, pharmaceuticals, aircraft and spacecraft equipment, mineral fuels and plastics, among others.
The exponential growth in trade has seen the UAE becoming Zimbabwe's second-largest trading partner.
Notably, though, most of the shipments are still mainly composed of primary products such as raw minerals and semi-processed products. According to the Government, efforts should be made to promote the export of value-added products, particularly new products that Zimbabwe has a comparative advantage in.
"We stand ready to support your business interests and provide any necessary assistance as you take advantage of the bountiful trade and investment opportunities available in Zimbabwe.
"Equally, Zimbabwe is keen to leverage the UAE's economic prowess and geographical advantage as a good entry point into the Gulf market," said Ambassador Chimbindi.
In addition, Ambassador Chimbindi pledged the Government's readiness to provide investment security for UAE investors.
Also addressing the gathering UAE Ambassador to Zimbabwe, Dr Zakaria Hassan, said it was evident that both the UAE and Zimbabwe held a firm desire to promote and foster trade within the two respective regions.
"The Zimbabwean-UAE forum is a testimony of shared commitment to mutual growth and prosperity between the two countries, to develop and strengthen the bilateral business relations and explore new avenues of economic cooperation.
"These are the commitments which are essential for sustaining fruitful exchanges between the two countries. This will allow us to pursue significant opportunities across various fields, including data projects, horticulture, arts and crafts," said Ambassador Hassan.
ZimTrade chief executive officer Mr Allan Majuru said the forum was meant to amplify the strategic and vibrant economic synergies between Zimbabwe and the UAE.
He implored local firms to tap into UAE's D33 agenda, which seeks to double the size of the emirates' economy by 2033.
The agenda also seeks to double the size of Dubai's foreign trade.
"There is a need to think long-term and explore opportunities that will be brought about through the Dubai D33 Agenda, where the plan is to double the size of the economy of Dubai by 2033, with an economic target to reach US$8,7 trillion by 2033,
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"They also look to double the size of Dubai's foreign trade from US$3, 9 trillion to US$7 trillion by 2033," said Mr Majuru.
According to Mr Majuru, growing trade between the two countries is a welcome development as it aligns with Zimbabwe's aspiration of becoming an upper-middle-income society by 2030.
Some of the entities from UAE that visited Zimbabwe include OneRoad Group, Al Yah Satellite Communications Company, Dubai Multi Commodities Centre, Halal Trade and Marketing Centre, IFFCO International Foodstuffs, DBITH International Trading, Alseer Group, Fit Fresh LLC, Global Fresh, NRTC, Dusk and Dawn Vegetables and Fruits Trading LLC, Finlays.
The forum started on Tuesday with engagements between ZimTrade, and several businesses from UAE. Zimbabwe Investment Development Agency (ZIDA), Zimbabwe Tourism Authority (ZTA), and the Zimbabwe Business Council in UAE also participated at the event.
