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Zimbabwe to benefit from liberalised EU market under new agreement

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Harare, Zimbabwe, January 29 (Infosplusgabon) - The Zimbabwean government and the European Union (EU) on Wednesday launched a project that will see Zimbabwe access 80 percent of goods from the EU with no tariffs, making them cheaper.

 

 

The EU has set aside €10 million to support the implementation of the project, called the 'Zimbabwe Economic Partnership Agreement Support Project' (Zepa), at a time when trade with the EU forms 5 percent of Zimbabwe’s total trade.

 

“The EU has liberalised all exports, there is a duty free, border free, access to all Zimbabwean produce to enter the European market. But, the WTO (World Trade Organization) also demands reciprocity which means that Zimbabwe also needs to liberalise its market for European imports,” EU Ambassador to Zimbabwe, Timo Olkkonen, told shortly after the launch of Zepa.

 

“And, the 20% imports relate to the amount of protection that Zimbabwe can have as establishing tariff lines so Zimbabwe over the years will liberalise 80% of its trade and 20% will be protected, of imports. So, with imports from the EU, 20% can be protected with tariffs and then 80% can be liberalised. This is not a demand that comes form the EU but from the WTO.”

 

He added: “Zimbabwe has a huge, huge, trade deficit. But, in fact, the trade between the EU and Zimbabwe is in favour of Zimbabwe. So, Zimbabwe is exporting more than it is importing from the EU. It is not huge amounts, but horticulture is growing. If I remember correctly, the trade balance is around €150 million positive for Zimbabwe for 2017 or 2018”.

 

The overall objective of Zepa is to enhance Zimbabwe’s integration into the regional and international trading system and to increase the volume of exports between the EU and Zimbabwe.

 

Through the €10 million grant, the EU will support Zepa through supporting policy improvements, improved trade facilitation as well as competitiveness and export capacity for small to medium enterprises.

 

Currently, trading with the EU has largely been skewed towards the horticultural sector, something Zepa will seek to improve by promoting diversification.

 

However, one limiting factor in doing trade with Zimbabwe has been its increased negative image from a poor ease of doing business environment, political climate and its shaky human rights record.

 

Zimbabwe Foreign Affairs and International Trade deputy minister, David Musabayana, has denied that the image of the country was becoming more negative.

 

“As a ministry, we are working on an information strategy that ensures that there is proper communication…Our focus is on information strategy where we are saying we need, as a country, to be proactive in terms of informing the public and the international markets, communities, as to the correct happenings around the country,” he said.

 

 

FIN/INFOSPLUSGABON/AZE/2020

 

 

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