South Africa, Zimbabwe Sign Investment Agreement
Tony Ekata, Johannesburg
South
Africa and Zimbabwe have signed an agreement on the Promotion
and Reciprocal Protection of Investments.
The signing of the agreement in Harare, Zimbabwe followed the
trade and investment seminar by business people from the two
countries.
The agreement is expected to create an enabling and protective
environment for investments by nationals of both countries in
each other’s territories.
Speaking at the signing ceremony, the South African Minister of
Trade and Industry, Dr. Rob Davies said that the bilateral
investment treaty would go a long way in building the
much-required business confidence in Zimbabwe.
’’
It would also ensure the re-integration of Zimbabwe into
cross-border projects of significance such as the Spatial
Development Initiatives, which will enhance regional economic
development and integration.’’
He said.
He
listed some of the new proposed investments by the South African
private sector in Zimbabwe to include agro-processing,
telecommunications, mining and infrastructure.
The Zimbabwean Minister of Economic Development and Investment
Promotion, Elton Mangoma said the agreement would offer
companies and individuals increased investment security and
certainty under international law.
Zimbabwean Deputy Prime Minister, Arthur Mutambara and other
cabinet ministers, business people from both South Africa and
Zimbabwe and senior government officials witnessed the signing
of the agreement.
Yinka
