Image Credits - Indian Bureaucracy
The third session of the India-Zimbabwe Joint Trade Committee (JTC) was held in New Delhi from May 13 to May 14, 2024. The meeting was co-chaired by Ms. Priya P. Nair, Economic Adviser, Department of Commerce, Ministry of Commerce and Industry, Government of India, and Ms. Rudo M. Faranisi, Chief Director, Economic Cooperation, International Trade, and Diaspora, Ministry of Foreign Affairs and International Trade, Government of Zimbabwe.
The Zimbabwean delegation also included Charge d’Affaires Mr Peter Hobwani from the Embassy of Zimbabwe, along with over 15 delegates from various relevant ministries.
Both sides reviewed the current state of bilateral trade and acknowledged the vast potential that exists between India and Zimbabwe. They agreed to make concerted efforts to enhance bilateral trade and explore new areas of cooperation. One significant outcome of the session was the agreement to explore the signing of Memorandums of Understanding (MoUs) for regulatory cooperation in various fields, including digital transformation solutions, telemedicine, rough diamonds, fast payment systems, and traditional medicine.
Several key areas for enhancing bilateral cooperation between India and Zimbabwe were identified during the 3rd Session of the Joint Trade Committee. These include pharmaceuticals, geospatial technologies, healthcare (with a focus on telemedicine), machinery and mechanical appliances, vehicles and electrical machinery, mineral fuels and oils, plastics, iron and steel, agriculture and food processing, engineering, renewable energy, digital economy, textiles, and capacity building. Both countries emphasized the importance of collaborating in these sectors to boost trade and investment, reflecting their commitment to mutual growth and development.
The session also highlighted the need for closer cooperation between investment promotion agencies and Chambers of Trade in both countries. This collaboration is expected to facilitate investment and trade, benefiting both economies
The deliberations of the 3rd Session of the India-Zimbabwe Joint Trade Committee were forward-looking and indicative of the special relations between the two countries. Both sides expressed optimism about the future of their bilateral trade relations and the potential for mutual growth and development.