ISLAMABAD, Aug 30 :Ambassador of Zimbabwe to Pakistan, Titus M.J. Abu Basutu on Friday said that the existing bilateral trade between Pakistan and Zimbabwe stands at $ 30 million in FY 2023 less than its potential, which needs to be increased to $100 million in the coming three years.
The target is to take the volume of bilateral trade up to 100 million in the next three years till FY 2026, the role of the private sector and chambers of commerce and Industries is significant and the Zimbabwean embassy in Islamabad will provide full support to the exporters and traders and businessman’s in this regard, Ambassador of Zimbabwe to Pakistan, Titus M.J. Abu Basutu told APP here.
The Ambassador said that Pakistan’s current export volume to Zimbabwe is $20 million and Pakistan’s imports from Zimbabwe are $10 million, which is less than the bilateral economic and trade potential, which can be increased over time to strengthen economic ties.
He said that Zimbabwe imports from Pakistan mainly agricultural goods including rice, tractors and other sectors like light engineering, electronics, medical equipment, sports equipment, safety tools and machinery.
While Pakistan imports from Zimbabwe including chemicals, tanning dying tobacco and cotton from Zimbabwe. The Ambassador said that at this time Zimbabwe prioritized promoting economic and trade relations with Pakistan and increased bilateral trade volume on priority, for which, ”We encourage the business communities of both sides to exchange mutual business delegations.”
The ambassador said that Zimbabwe is having a ‘Trade Expo’ in April 2025, where industrialists and traders from all over the world will participate and he invites the Pakistani business community to participate in it.
Apart from this, there is a tourism summit in Zimbabwe from coming September 12, 2024, in which tourism experts and leaders from all over the world will gather and present feasible plans for the promotion of tourism in Zimbabwe.
He said that there will be an agriculture show in the coming months of September, where a forum will be organized regarding Zimbabwe’s agriculture and its potential.
At this time, the government of Zimbabwe wants to bring reforms and modernize in the agricultural sector in his country, he said.
Zimbabwean envoy said that there is a lot of potential in the pharmaceutical sector and medical equipment in Zimbabwe and in both potential sectors; Pakistan’s industrialists need to work with Zimbabwean relevant sectors.
He said that Zimbabwe is a member of a significant African regional economic block, where a regional Free Trade Agreement (FTA) applicable for Pakistan and any other can obtain economic benefits.
He said that Pakistan’s Look Africa drive can open new avenues of cooperation between Zimbabwe and Pakistan. Titus M.J said that Zimbabwe can be a gateway for Pakistan in the African region, which will increase Pakistan’s economic penetration in the African region.
He said that there are vast opportunities for Pakistani investors in tourism, infrastructure and agriculture in Zimbabwe to enhance the economic activities between both of the countries.
The ambassador said that there is a need for professionals in various sectors in Zimbabwe and there is a need for medical doctors and staff in health sectors.
He said that the health sector of Zimbabwe is efficient at this time where people in rural areas including the center and provinces are getting medical facilities under the modern mechanism.
Titus Basutu said that Zimbabwean students are studying on scholarship at various universities in Pakistan, which is an important example of bilateral cooperation for the promotion of the education sector between the two countries.
The envoy said that the promotion of tourism in both countries and people-to-people contact between the two sides is of great importance on which there is an agreement to increase cooperation between the two sides.
Follow the PNI Facebook page for the latest news and updates.
