Itai Ndongwe
Trade between Zimbabwe and the European Union has surged by 30% to US$880 million, which is a significant step towards reaching the US$1 billion target in trade and investment, thanks to their trade agreement.
The two parties’ agreement allows Zimbabwean companies to export goods to the EU duty- and tariff-free, fostering economic growth and cooperation.
The remarks were made by EU Ambassador Jobst Von Kirchmann during the first-ever EU-Zimbabwe Business Forum, which officially opened today at the Hyatt Regency Meikles Hotel in Harare. This event marks a significant milestone in efforts to strengthen trade and investment ties between the European Union and Zimbabwe
“When we looked at the positive development of trade and investment with the EU over the last years, we felt that the time was ripe to bring EU companies to Zimbabwe”. Over the past three years, EU–Zimbabwe trade has grown by 30%, reaching US$880 million thanks to the EPA agreement,” he said.
He added that EU foreign direct investment in Zimbabwe has nearly doubled, now standing at $870 million. The EU continues to focus on areas strategically aligned with Zimbabwe’s potential growth sectors, including horticulture, agriculture and agro-processing, renewable energy, and mining value chains.
This increased investment demonstrates that the EU and Zimbabwe are committed to deepening their partnership, with the EU eager to invest in the country. ” 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 added.
The three-day event brings together over 300 business leaders, investors, policy-makers, and entrepreneurs from across the EU and Zimbabwe, all aiming to explore practical avenues for commercial collaboration. Organized by the EU Delegation to Zimbabwe in partnership with the Zimbabwe Investment and Development Agency (ZIDA), ZimTrade, and the Confederation of Zimbabwe Industries (CZI), the Forum is held under the theme “Unlocking Trade and Investment under the Global Gateway Initiative.”
The impressive turnout at the event reflects the growing momentum in EU-Zimbabwe relations, with 64 companies from 12 EU Member States—including France, Germany, Austria, Finland, Poland, the Netherlands, Italy, Sweden, Belgium, Spain, Portugal, and the Czech Republic—participating. These companies are engaging with over 150 Zimbabwean firms through structured business-to-business sessions, dialogue panels, and field visits.
Despite space limitations, the event drew significant interest, with over 600 companies expressing interest in participating. Ultimately, 300 companies were confirmed for in-person attendance, underscoring the strong demand for business opportunities between the EU and Zimbabwe.
The EU has noted challenges such as currency volatility, regulatory unpredictability, and access to finance as barriers to investment in Zimbabwe however, the forum seeks to address these concerns through frank and constructive dialogue, connecting investors and local stakeholders to explore opportunities and solutions.
The Forum coincides with significant developments in EU-Africa trade relations, particularly the ongoing negotiations to deepen the Economic Partnership Agreement (EPA) between the EU and the Eastern and Southern Africa region, which includes Zimbabwe. If finalized, this agreement would be the first of its kind between the EU and an African region, potentially boosting trade and investment.
The EU’s Global Gateway strategy aligns with the Forum’s approach, emphasizing the role of both European and Zimbabwean private sectors in driving sustainable infrastructure development and inclusive business growth. This strategic alignment underscores the EU’s commitment to fostering economic cooperation and development in the region.
