Staff Reporter
Zimbabwe’s trade relations with the United Arab Emirates (UAE) have significantly expanded, with the UAE becoming Zimbabwe’s second-largest export destination in recent years.
Speaking at the ZimTrade Annual Buyers Seminar, Dr. Zakariah from the UAE Embassy highlighted that the trade exchange between the two countries has surged to US$1.2 billion, demonstrating strong economic ties. He noted that prior to 2017-2018, the UAE was not even among the top ten export markets for Zimbabwe, but remarkable growth has been shown in recent years, particularly in the mining sector.
“The UAE now stands as Zimbabwe’s second-largest export destination, with exports reaching US$1.9 billion in 2023. We see a dominant flow of gold, metals, and precious stones, accounting for $1.85 billion of total exports,” he stressed
Weighing in on the development, Tapiwa Muguti, Head of Trade at Stanbic Bank, also emphasized the importance of Zimbabwe’s trade with the UAE, highlighting the country’s need to focus on producing high-quality products to stay competitive.
“The UAE market is highly demanding, with a need for competitive pricing and certifications such as the Good Agricultural Practices (GAP) for agricultural products. This is an opportunity for Zimbabwe to enhance its product standards and grow its exports,” Muguti said
He explained that Stanbic Bank is prepared to support exporters through financial solutions and business advisory services, ensuring they meet international standards and remain consistent in their supplies.
“Our goal is to empower local businesses, especially SMEs, to scale their operations and match the demands of markets like the UAE,” Muguti added.
Mr. Emmanuel Makoni, CEO of the Zimbabwe Trade Forum, also weighed in, noting that the UAE’s demand for Zimbabwean products presents vast opportunities for local businesses.
“This partnership is not just about exporting minerals but also exploring other sectors like agriculture and manufacturing. We must diversify our exports to make the most of this growing market,” Makoni remarked.
He urged Zimbabwean companies to be proactive in improving their supply chains and meeting the UAE’s quality requirements.
“The UAE’s openness to Zimbabwean products is an opportunity for our economy to grow and diversify, but it also demands that we enhance our efficiency and ensure consistency in our exports, ”Makoni said
As Zimbabwe continues to strengthen its trade relationships with global partners like the UAE, the focus remains on maintaining quality standards, competitive pricing, and consistent supply to foster sustainable growth. Government and private sector are committed to maximizing these opportunities, setting the stage for a robust and diversified export economy.
