Story by Stanley James
The Zimbabwe Investment and Development Agency (ZIDA) has issued five investment licenses to Turkish companies since January this year in line with increased economic bilateral ties between the two countries.
The Minister of Foreign Affairs and International Trade, Ambassador Frederick Shava told delegates at the fourth Turkey – Africa Economic and Business Forum in Istanbul this Thursday that Turkish investors continue to explore more investment opportunities in Zimbabwe.
“We are very keen to tap into the wealth of expertise and productive capacity that include agriculture and agro processing, manufacturing, infrastructure development, energy, health, and textiles, furthermore the volumes of bilateral trade have grown by 50 percent over the past three years and there is potential for much bigger volumes of trade. In addition, in the 1st half of 2023, our investment promotion agency, the Zimbabwe Investment and Development Agency (ZIDA) issued five investment licenses to Turkish companies in manufacturing, textiles, transport, energy and service sectors,” he said.
The Minister of Trade for the Republic of Turkiye Professor Omer Bolat spoke on the commitment to boost trade with Zimbabwe and African economies, “Consolidating the current gains is key to ensure that more trade and investment agreements are finalised, this forum also provides an opportunity for the two parties to review the current trade facilities and chart the way forward.”
The Turkey – Africa Business and Economic Forum provides a platform for the Republic of Turkey to deepen and expand economic as well as trade co-operation with African countries.
Statistics released at the forum show that the volume of Turkey’s trade with African countries reached the US$40 billion mark with projects implemented by companies from Turkey topping US$87 billion.
