The Confederation of Zimbabwe Industries (CZI) has signed a memorandum of understanding (MoU) with the Confederation of Industry India (CII) to promote exports between the two countries.
BY NOKUTHABA DLAMINI
CZI and CII struck the deal on the sidelines of the latter’s ongoing annual congress and international investment forum in Victoria Falls, which was attended by delegates from India and Turkey.
Some of the provisions of the MoU are to: “Enhance economic relations and propose to the respective governments measures and mechanisms to promote exports on the basis of mutual interests to avoid any imbalances, which may affect the relationship between India and Zimbabwe.”
The MoU also commits CZI and CII: “To organise trade missions and to co-operate through the organisation of conferences, symposia and other forms of trade events for the promotion of trade, industry and services of both countries and also to participate and cause traders to participate in trade fairs and exhibitions, encourage reciprocal visits of businessmen and professionals and help visitors and businessmen in both directions, obtain the most appropriate business contracts.”
CZI and CII’s deal would also see Zimbabwe and India exchange information, which includes “financial information and any documentation, marketing strategies, business policies or practices or any other confidential information”.
Industry and Commerce minister Mike Bimha, who witnessed at the signing ceremony, welcomed the MoU and called for more co-operation between Indian and Zimbabwean businesses.