Zimbabwe, South Korea strengthen economic ties amid growing cooperation

Staff Reporter

Zimbabwe and the Republic of Korea have reaffirmed their commitment to strengthening economic and trade relations, a move expected to catalyse development in key sectors for both nations.

The renewed pledge for cooperation came during the 2024 Republic of Korea Festival held in Harare last Wednesday night, which celebrated the longstanding partnership between the two countries.

Speaking at the event, Deputy Minister of Foreign Affairs and International Trade, Sheillah Chikomo, expressed Zimbabwe’s gratitude for Korea’s continued support, particularly its recent commitment to provide humanitarian assistance in response to the effects of the El Niño-induced drought.

"On behalf of the Government of Zimbabwe, I wish to extend my sincere gratitude to the Republic of Korea for its timely pledge to donate food to Zimbabwe. This assistance comes at a critical time, following President Emmerson Mnangagwa’s appeal for humanitarian support to mitigate the effects of drought," said Chikomo.

She further emphasized the importance of the diplomatic ties between Zimbabwe and South Korea, noting that the relationship was bolstered by President Mnangagwa's visit to Korea in June for the Korea-Africa Summit.

"The relationship between Zimbabwe and Korea has been further strengthened by the recent visit of His Excellency President Mnangagwa to Korea in June. Zimbabwe remains committed to broadening and deepening trade and economic cooperation with Korea as we look to drive our national development goals," she added.

Korean Ambassador to Zimbabwe, His Excellency Jae Kyung Park, echoed these sentiments, reaffirming his country’s commitment to working with Zimbabwe across various sectors.

He highlighted that the two nations have much to gain through collaboration in industries such as agriculture, mining, and infrastructure development.

"I am delighted by the success of today’s event, which underscores the strong relationship between our two countries. Korea remains dedicated to continuing its cooperation with Zimbabwe in areas like agriculture and mining, and we are optimistic about the future of our partnership," said Ambassador Park.

The celebrations were marked by vibrant performances from both the Zimbabwean and Korean taekwondo teams, adding a cultural element to the event that highlighted the depth of the nations' relationship, which dates back to the 1990s.

 Over the years, Zimbabwe and South Korea have developed strong diplomatic ties, working together in a variety of sectors including agriculture, health, education, and infrastructure development.

International relations expert, Tilder Mupfure said that the collaboration between the two nations is seen as a critical element in Zimbabwe's broader strategy to attract international investment and enhance its economic growth.

“The continued cooperation between Zimbabwe and Korea is expected to foster more opportunities for trade, investment, and development as both countries look toward a more prosperous future. This latest affirmation of economic cooperation not only strengthens diplomatic ties but also reflects Zimbabwe’s efforts to diversify its economic partnerships and bolster its engagement with international allies,” said Mupfure.

 As both nations move forward, the impact of this relationship is expected to contribute significantly to Zimbabwe’s ongoing economic recovery and growth trajectory.