Zimbabwe Eu Trade Agreement

« The negotiations will stimulate bilateral trade and stimulate investment flows, contributing to job creation while promoting sustainable development, » he said. « There has been a significant increase in the volume of agricultural exports from Zimbabwe to the EU, but there is still a huge potential for product growth, as trade between Zimbabwe and the EU currently accounts for about 5% of Zimbabwe`s total trade, » he said. Major exports include gold, tobacco, metal alloys, cotton and sugar. The main imports are fuels and petroleum products, electricity, machinery and transport, food and various industrial products. Zimbabwe`s trading partners include South Africa and other African countries, the United States, China and some EU countries. Zimbabwe is one of the regional economic organizations for trade and development, including the Southern African Development Community and the Common Market for East and South Africa. Economic sanctions imposed during the IDU, which had been phased in on both imports and exports from 1966 to 1968, were lifted in December 1979. They had been largely injured, particularly in terms of mineral exports and oil supplies, but they nevertheless affected some raw materials, such as tobacco exports. Although the trade surplus declined in 1979 due to higher oil prices, the value of exports is still higher than that of imports.

In the 1980s, Zimbabwe recorded slow but steady growth in its trade surplus, with its unusually high export diversity able to overcome changes in global demand for its raw materials. However, the economic turbulence of the 1990s and 2000s had a negative impact on the trade balance over the past few years, slowing growth or resulting in a negative balance. At the beginning of the 21st century, some countries and organisations – including the United States and the EU – imposed various restrictions on travel and trade in response to what they see as political and human rights violations in the country. These measures were aimed primarily at senior Officials of the Mugabe Administration and their families, not the general population and economy of the country, and did not apply to humanitarian aid; However, the government has assured that these sanctions have contributed to the country`s economic problems.