SA, Zimbabwe to reinforce bilateral relations

Thursday, April 9, 2009

Pretoria - South Africa and Zimbabwe are to reinforce bilateral relations at the South Africa-Zimbabwe Business Forum, to be held next week.

According to the Department of Trade and Industry, South Africa and Zimbabwe are to sign a Bilateral Promotion and Reciprocal Protection Investments Agreement at the forum in Polokwane on Tuesday.

"The purpose of the forum is to highlight trade and investment opportunities, following the formation of a Transitional Government of National Unity in Zimbabwe," the department said.

The new government of Zimbabwe, through its Short-Term Emergency Recovery Programme has committed itself to encouraging new local and foreign investment to stimulate the country's economic growth and development.

The Business Forum follows the third Session of the Zimbabwe-South Africa Joint Commission, held last month at Victoria Falls, the department said.

"The Joint Commission agreed, amongst other initiatives, to finalise negotiations on the Bilateral Investment Promotion and Protection Agreement, Memorandum on Economic Co-operation and Avoidance of Double Taxation Agreement."

They also agreed to co-operate in enhancing production in the mining sector, finalise negotiations on a draft Protocol on Tourism, and establish a Bilateral Tourism Technical Committee, the latter in view of the tourism growth prospects emerging from the 2010 FIFA World Cup and Transfrontier Conservation Parks.

South African Minister of Trade and Industry, Mandisi Mpahlwa, the Minister of Economic Development and Investment Promotion in Zimbabwe, Elton Mangoma, and the Premier of Limpopo, Cassel Mathale, will address the forum.

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