South Africa's Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe

Published: 14 October 2013

A South African business delegation is in Zimbabwe to explore joint venture deals with local firms in line with the government's policy to restore business confidence.

South Africa is Zimbabwe's largest trading partner, accounting for more than 70% on annual trade receipts.

However, concern is being raised over the neighbouring economy's dominance on Zimbabwe's balance of trade due to  a widenimng deficit of more than $3 billion.

South Africa's Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe said the investors are exploring opportunities in mining, agriculture, manufacturing, tourism and banking.

"We are always committed to do businerss with Zimbabwe," she said.

The Deputy Minister of Finance and Economic Development, Dr Samuel Undenge said Zimbabwe remains committed to attracting investment.

"Of course there is a trade deficit but this can be solved," said Dr Undenge.

Zimbabwe and South Africa signed a Bilateral Investment Promotion and Protection Agreement (BIPPA) in 2010, which gives comfort to investors from the respective countries that their projects will be safe and viable.
- zbc