Zimtrade, Jetro pen collaboration MoU
Yokohama, Japan (New Ziana) – Zimbabwe and Japan’s trade promotion bodies on Wednesday signed a memorandum of understanding (MoU) to boost trade between the two countries.
While statistics were not readily available, trade between the two
countries appears skewed in favour of the Asian country which is a major source market for second hand vehicles as well as machinery and equipment used by Zimbabwean companies.
Zimtrade chief executive, Allan Majuru and Japan External Trade
Organisation (Jetro) executive director for Johannesburg, Hiroyuki
Nemoto penned the agreement, with President Emmerson Mnangagwa and
Jethro president, Yasushi Akahoshi witnessing the occasion.
President Mnangagwa is in Japan to attend the seventh edition of the
Tokyo International Conference on African Development, which opened
here on Wednesday.
In terms of the agreement, the two organisations will “facilitate
collaboration and cooperation between the parties in matters of common
“The parties agree to collaborate with each other to promote and
strengthen trade relations between public and private sector
institutions and operators, in sectors to be mutually agreed with a
view to expand trade and investment between Zimbabwe and Japan,” read
a copy of the agreement.
President Mnangagwa, who is likely to meet with Japanese Prime
Minister Shinzo Abe and Emperor Naruhito on the sidelines of Ticad,
has said he will take the opportunity to urge the leaders to keep
strengthening bilateral ties between the two countries.
An appeal would also be made to the Japanese private sector to explore
investment opportunities in Zimbabwe.
Zimbabwe at its peak hosted more than 30 Japanese companies but the
number has fallen to two for various reasons over the years.
But Japan has invested over US$1 billion in Zimbabwe in various forms
since establishing diplomatic relations with Harare in 1980.