BY NATHAN GUMA
THE European Union has registered a record number of EU member states exhibiting at this year’s Zimbabwe International Trade Fair, showing growing economic ties between the bloc and Zimbabwe.
This comes at a time when EU-Zimbabwe trade relations have been deepening, with Zimbabwe recording an uptick in exports over the past few years.
According to Eurostat, total trade between Zimbabwe and the EU reached US$919 million in 2024, a 10% increase from US$881 million recorded in 2023.
At this year’s ZITF pavilion, the European Union had a record number of EU member states, including contributions from France, Germany, Italy, Sweden, Spain, the Netherlands, Ireland, Belgium, and Denmark.
These represented European member states, businesses, cultural institutes, and implementing partners of various European projects underway in Zimbabwe.
According to the EU, the economic ties are anchored by the Economic Partnership Agreement (EPA), which provides a solid framework for trade and investment.
This is most visible in the agricultural sector, where the EU has been Zimbabwe’s primary buyer of horticultural produce, currently absorbing over 40% of the country’s total exports, including blueberries, oranges, mange-tout peas, and sugar snap peas.
Highlighting the strength of these ties, EU Ambassador Katrin Hagemann said that the EU looks forward to increased European investment in Zimbabwe.
“Our partnership delivers real results. With trade reaching US$919 million last year, we are closing in on the US$1 billion mark, driving jobs and growth,” Ambassador Hagemann said.
“It is a truly win-win relationship: Zimbabwean producers are gaining ground in the European market, the world’s leading trading bloc, while European technology and machinery are boosting the competitiveness of Zimbabwe’s economy and notably local value addition.”
She said this momentum is reflected in the European Union’s return to the Zimbabwe International Trade Fair, reaffirming “our commitment to an inclusive and sustainable partnership between Zimbabwe and the EU”.
The EPA
A key pillar of the EU-Zimbabwe partnership is the EPA, in force since 2012, which grants Zimbabwean exporters duty-free, quota-free access to all 27 EU member states.
While Zimbabwe currently enjoys a positive trade balance of US$328 million, significant untapped potential remains, as only around 200 Zimbabwean companies are currently registered to export to the EU.
“To accompany businesses on this journey, the EU is launching a €7.8 million capacity-building project specifically in support of the export horticulture sector,” the EU said in a statement.
Beyond trade, the EU has been showing its long-term commitment to growing investments in the private sector through intermediate lending facilities.
For instance, the total amount of financing extended to Zimbabwean commercial banks by EU financial institutions, the European Investment Bank (EIB) and PROPARCO, over the past five years amounts to over US$100 million.
“These credit facilities, provided to banks such as CABS, FCB, NMB, and Stanbic, have been a prime example of collective efforts to create jobs, promote financial inclusion, and contribute to sustainable economic growth,” the EU said.
“This structured engagement is central to the EU’s approach under its Global Gateway initiative, which also supports critical infrastructure like the rehabilitation of the Kariba Dam to safeguard the country’s energy security and transition toward a greener economy.” – IOW Data.
