Zimbabwe and Tanzania have agreed to strengthen ties on trade and investment as the two countries seek to boost trade volumes with revelations of strategic partnerships in key sectors such as agriculture, education and mining.
The two nations are currently in the process of crafting bi-national partnerships in strategic sectors, as they seek to boost trade volumes which have remained very low at around $10 million annually.
The projection to grow trade earnings follows engagements between the visiting Tanzanian President Mr John Magufuli and President Emmerson Mnangagwa which have set the tone for stimulating development in the two nations.
Foreign Affairs and International Trade Minister, Retired Lieutenant General Dr Sibusiso Moyo said a follow-up ministerial meeting convened in the capital this Wednesday outlined opportunities that can be expanded covering sectors such as mining, pharmaceuticals and tourism, among others.
“It is in this framework that we should be looking at all the aspects that have been outstanding for a long time. We want to revive the joint commission. My proposal is that we must have a midterm review which must take place this year so that we can concretise issues that are critical for ensuring that we have a clear cut way forward,” Dr Moyo said.
Trade earnings between Tanzania and Zimbabwe have not been sufficient, a position which the SADC nation’s Foreign Minister Professor Palamagamba Kabudi hopes will be overturned within the coming years.
“We have taken our good relations to a higher level of economic cooperation in areas of defence, culture and tourism,” Professor Kabudi said.
Tanzania’s confidence towards Zimbabwe’s economic resurgence was recently cemented as their national flag carrier resumed direct flights into the country, signaling a mutual partnership expected to boost trade and commerce between the two countries.