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Zim – Iran look to boost trade volumes

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Zim – Iran look to boost trade volumes

Story by Abigirl Tembo

ZIMBABWE and Iran are on a trade expansion drive, with Vice President General (Rtd) Dr Constantino Chiwenga leading a delegation to explore new opportunities at the ongoing Iran Africa Economic Conference in Tehran.

Over 3,000 foreign business representatives from across the globe are attending the Iran Expo 2024 which is running concurrently with the Iran -Africa Economic Conference as the Middle East country seeks to strengthen its trade and economic ties with other nations.

Vice President Chiwenga and his delegation had a chance to tour exhibition stands showcasing products across seven major categories, including agricultural equipment, construction and pharmaceuticals.

“In the health sector, we have seen quite a lot as well, they are going to establish the production of medicines in Zimbabwe. We want them to come with hospital equipment like cancer machines, dialysis machines among a host of hi-tech innovations we have seen here.

“We have seen quite a lot of interesting things at the agricultural pavilion from the development of cattle, be it dairy, or beef, that their development of the embryo they double the size and the quality that is what struck us. That kind of innovation, that kind of technology we would want the Islamic Republic of Iran to share with us. We visited tractors and these tractors are the best we can use for our rural industrialisation,” said Vice President Chiwenga.

Although trade volumes between Zimbabwe and Iran are currently low, Vice President Chiwenga noted the potential for a joint venture in tobacco processing.

“The Iran Tobacco Company is over 100 years old and since they were established, we also became a major player in supplying them with raw material for making cigarettes that is our Zimbabwe tobacco. So, they have been importing Zimbabwe tobacco for many years from pre-independence up to now, they are still importing tobacco and what we would want is for us and Iran to go into a joint venture.

“Already, the Minister of Agriculture and the chairman of TIMB are discussing with their counterparts here in the Iran Tobacco Company. We are already seeing traction and we are encouraging them to come and establish themselves in Zimbabwe so we can value add and beneficiate our machinery,”

Now in its 6th year, the Iran Expo has established a platform for dialogue and collaboration, ultimately shaping a new narrative for trade and economic future.

The expo aims to strengthen Iran’s trade and economic ties with other nations, while also boosting domestic manufacturing and propelling the private sector onto the global stage.