Zimbabwe and UAE near conclusion of landmark trade agreement

Zimbabwe and the United Arab Emirates are nearing the conclusion of a Comprehensive Economic Partnership Agreement (CEPA). This free trade pact aims to strengthen the framework for investment, market access, and trade between Harare and Abu Dhabi.

Bilateral trade between the two nations has reached US$7 billion, following a 74 percent increase over the last two years. During the first quarter of this year, the UAE served as Zimbabwe's primary export destination, accounting for US$1.4 billion, or half of the country's total export earnings. Key exports to the UAE include horticultural products and minerals.

Foreign Affairs and International Trade Minister Professor Amon Murwira confirmed that Zimbabwe submitted its comments on the draft agreement last Thursday. This step allows negotiations to proceed toward a final conclusion, which could occur as early as next week or later this month. The agreement is intended to consolidate existing economic gains and reduce Zimbabwe's reliance on mineral exports by opening new markets.

During a meeting at State House in Harare, UAE Minister of State in the Ministry of Foreign Affairs Sheikh Shakhboot bin Nahyan Al Nahyan met with President Mnangagwa to discuss diplomatic and economic progress. The two nations intend to expand their cooperation into infrastructure, tourism, and other productive sectors. Victoria Falls has already been identified as a primary target for UAE investment in the hospitality and tourism industries.

This economic push aligns with the Second Republic's strategy to promote Zimbabwe as a destination for business. Professor Murwira noted that this growth is part of a broader trend in Zimbabwe's international economic engagement, citing trade increases of over 30 percent with the European Union and expanded relations with China.