EU Private Sector Dialogue: Strengthening Investment and Trade Cooperation
A key focus was the exploration of the EU's Global Gateway offer through the European Fund for Sustainable Development (EFSD+), showcasing its potential to mobilize financing for investments, particularly in Africa and Zimbabwe. Participants also delved into the opportunities presented by the EU-Zimbabwe Economic Partnership Agreement (EPA), shedding light on its benefits and discussing challenges hindering access to its advantages.
Insightful discussions revolved around unlocking investment potential through various EU financial instruments, highlighting the urgent need for increased investment finance. While efforts are underway to address debt and arrears challenges, inhibiting larger-scale projects requiring sovereign lending, the EU and EIB remain committed to promoting private sector investments by facilitating lending facilities through local banks such as CABS, NMB, and First Capital Bank.
A notable outcome was the recognition of the vast potential offered by the EPA in boosting exports to the EU market, yet its underutilization was evident. Stakeholders emphasized the importance of heightened awareness of the agreement's benefits and collaborative efforts to overcome constraints hindering Zimbabwean companies from fully benefiting from it.
Moreover, the session served as a dynamic networking platform, fostering connections between businesses, government entities, financial institutions, and development partners. The notable presence of EU Ambassadors and representatives from various member states underscored the unwavering commitment to enhancing trade and investment ties between Zimbabwe and the EU.
As the EU Delegation to Zimbabwe remains dedicated to advancing economic cooperation, collaboration with partners will continue to address constraints hindering Zimbabwean companies from fully benefiting from the EPA. Together, we strive towards a future of enhanced trade, investment, and mutual prosperity.