Pretoria - The South Africa-Zimbabwe Business Forum will be held today in Pretoria to look into untapped trade and investment opportunities between the two countries.
The two countries have identified opportunities in the fields of mining, water, energy, infrastructure development, transport, information communication technologies, clothing and textile, financial services and pharmaceuticals, among others.
The forum forms part of Zimbabwe President Robert Mugabe's two-day State Visit to South Africa.
Both President Jacob Zuma and President Mugabe are expected to address the forum.
Zimbabwe is one of South Africa's key trading partners in the Southern Africa Development Community region.
On Wednesday, the two countries signed five agreements – including a Bi-National Commission Agreement (BNC) whose objective is to take relations to a higher level and will be led by the Heads of State of respective countries.
It is hoped that the BNC will alleviate trade relations to a higher level and help monitor the implementation of progress.
There has been slow implementation of the 35 bilateral agreements which were signed in the past, causing trade balance to be in favour of South Africa.
In 2014, South Africa’s exports to Zimbabwe amounted to R24.8 billion, while Zimbabwe’s exports to South Africa reached R2 billion.
The two countries believe that the economic relations between them have a potential to grow beyond their current levels.
Speaking at a joint press conference on Wednesday, following official talks between the two Presidents, President Mugabe urged South African business companies, particularly in mining, manufacturing and agriculture to explore business ventures in Zimbabwe.
“We have abundant natural resources in Zimbabwe that could be mined. We want investors to come as partners and exploit our resources,” he said.
President Zuma said South Africa wanted trade that favours both countries. “That is what we are working towards.” – SAnews.gov.za
