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Agriculture
Zim takes investment opportunities to Türkiye indaba – The Herald
Africa Moyo Deputy News Editor
Zimbabwe’s investment opportunities will take centre-stage during the 4th Türkiye-Africa Business Forum where Foreign Affairs and International Trade Minister Ambassador Frederick Shava is expected to lead the country’s delegation.
The economic business forum is set for Thursday and Friday next week at the Istanbul Congress Center in Istanbul.
In an interview yesterday, Zimbabwe’s Ambassador to Türkiye, Alfred Mutiwazuka, confirmed Harare’s participation.
He said Zimbabwe’s delegation will comprise officials from ZimTrade, the Confederation of Zimbabwe Industries (CZI), Government institutions and private sector companies.
“In line with Zimbabwe`s engagement and re-engagement drive, Minister Shava will have a meeting with Professor Dr Omer Bolat, Minister of Trade of the Republic of Türkiye to discuss among other issues: the Trade and Economic Cooperation Agreement signed in 2018 and ratified by Türkiye in February 2022 and implementation of the Agreement to Establish the Türkiye-Zimbabwe Business Council signed in 2016 by the CZI and Türkiye’s Foreign Economic Relations Board,” said Ambassador Mutiwazuka.
“The Minister will engage players in the agriculture, manufacturing, mining, transport and infrastructure sectors with a view to inviting them to invest in Zimbabwe.”
Ambassador Shava is also expected to participate in a panel on “Türkiye and Opportunities under the AfCFTA”, a topic that the Turkish authorities have shown great interest in, as they advance Türkiye-Africa cooperation.
Some members of the Zimbabwe delegation will participate in other panel meetings on digital transformation, health technologies, sustainability of value chains in the agro-industries and manufacturing sectors, women entrepreneurship, free zones, the AfCFTA, financing of trade and investments and banking during the two-day conference.
Ambassador Mutiwazuka said the Türkiye-Africa Economic Business Forum offers mutual benefits to both Africa and Türkiye, through increased economic cooperation.
“The Forum demonstrates the emerging role of African countries as dynamic players in the global business arena. African countries and Zimbabwe, in particular, benefit from the increasing economic development of Türkiye economic cooperation hinged on the ‘win-win’ principle,” he said.
Africa benefits from this forum in various ways including facilitating increased trade and investment between Africa and Türkiye by promoting economic relations and encouraging Turkish businesses to invest on the continent.
Increased investments are expected to lead to job creation, infrastructure development, and increased revenue for African nations.
African countries are also expected to benefit from infrastructure development since Türkiye has expertise in infrastructure projects such as construction, transportation, and energy.
Through the forum, Africa can benefit from Turkish investments and technologies, which address crucial infrastructure gaps in many African countries.
Türkiye also has experience in the manufacturing and industrial sectors, which can be shared with African nations to enhance their own industrialisation efforts.
President Mnangagwa has reiterated that Zimbabwe is on an unrestrained path to industrialisation and modernisation, and the country is expected to benefit from its participation in the business forum.
It is expected that collaboration with Türkiye in the manufacturing and industrial sectors can help Africa develop local industries, reduce import dependency, and create employment opportunities.
With many countries experiencing food shortages, it is expected that through participation in the business forum, African countries will benefit Türkiye’s advanced agricultural technologies — machinery and implements — and knowledge that help to improve productivity, increase food security, and enhance agricultural value chains.
This knowledge transfer can contribute to sustainable agricultural development in Africa.
The Türkiye -Africa Economic Business Forum also promotes tourism and cultural exchanges and investment in the tourism industry, thereby creating employment opportunities, and fostering cultural understanding.
African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Ambassador Albert Muchanga has said this year’s Türkiye-Africa Economic and Business Forum convenes against the background of global challenges of climate change and its adverse impact of heat waves, flooding and drought, inflation, geopolitical tensions, food and energy insecurity as well as the lingering Covid-19 pandemic is some parts of the world.
But he said while this is a period of multiple challenges, it is also a period of opportunity and hope, and the “key lever is cooperation because it is a vital instrument in meeting the world’s complex challenges which no country or region can solve on its own”.
“The Türkiye-Africa Economic and Business Forum is a strategic lever in this regard,” said Ambassador Muchanga.
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