Bilateral trade between Zimbabwe and the United Arab Emirates (UAE) amounted to $3 billion in 2023, up from $2bn in 2022, with the trade figures in favour of Zimbabwe which traded $2.7bn of them.
Trade between the two countries has been on an upward trajectory – despite the impact of possible impediments such as the Covid-19 pandemic – since the nations signed the Bilateral Promotion and Protection of Investments Agreement, and a tax treaty in 2018.
This was revealed by the Zimbabwean Ambassador to the UAE, Lovemore Mazemo.
As a result of these two agreements, and an open-for-business foreign policy stance, trade growth had been steady since 2019, said Mazemo.
He added that 28 UAE companies have a presence in Zimbabwe.
To support Zimbabwean business in the UAE, the Zimbabwe Business Council, a business networking forum, was established with the blessing of the Dubai Chamber of Commerce. The Zimbabwe Embassy in the capital of the UAE, Abu Dhabi, recently announced the opening of a Dubai Consulate as well.
Its agreements with the UAE have also enabled Zimbabwe to explore the markets of the other countries of the Gulf region – Qatar, Bahrain, Kuwait, Oman, and Saudi Arabia.
Zimbabwe’s exports to the UAE include precious stones and pearls, tobacco, edible fruits, macadamia nuts, bananas, avocados and various berries.