TRADE between Zimbabwe and the European Union (EU) is edging towards the US$1 billion mark, underlining deepening economic ties driven by growing exports and increased uptake of European technology, EU ambassador Katrin Hagemann has said.
Hagemann made the remarks as the bloc returned to the Zimbabwe International Trade Fair (ZITF) in Bulawayo for the fourth consecutive year, showcasing a unified and expanded presence under the Team Europe banner.
The EU pavilion this year brought together the EU Delegation and a record number of member states, including France, Germany, Italy, Sweden, Spain, the Netherlands, Ireland, Belgium and Denmark, alongside European businesses, cultural institutes and implementing partners of various Team Europe projects in Zimbabwe.
“Our partnership delivers real results. With trade reaching US$919 million last year, we are closing in on the US$1 billion mark—driving jobs and growth,” Hagemann said in a statement on Thursday.
“It is a truly win-win relationship: Zimbabwean producers are gaining ground in the European market—the world’s leading trading bloc—while European technology and machinery are boosting the competitiveness of Zimbabwe’s economy and notably local value addition.”
This year’s ZITF theme, “Connected Economies, Competitive Industries,” reflects the growing economic interdependence between Zimbabwe and the EU, anchored by the Economic Partnership Agreement (EPA), which has been in force since 2012.
The EPA grants Zimbabwean exporters duty-free and quota-free access to all 27 EU member states, creating opportunities for increased trade and investment. The EU remains Zimbabwe’s largest market for horticultural produce, absorbing more than 40% of exports such as blueberries, oranges, mange-tout peas and sugar snap peas.
Despite a positive trade balance of US$328 million in Zimbabwe’s favour, the EU says significant untapped potential remains, with only around 200 local companies currently registered to export to the bloc.
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To support expansion, the EU is rolling out a €7,8 million capacity-building programme targeting the export horticulture sector, aimed at helping more Zimbabwean firms access European markets.
Beyond trade, the EU is scaling up support for private sector growth through financing facilities channelled via local banks. Over the past five years, more than US$100 million has been extended to Zimbabwean commercial banks—including CABS, FCB, NMB and Stanbic—through institutions such as the European Investment Bank (EIB) and PROPARCO.
The funding is designed to promote financial inclusion, stimulate job creation and support sustainable economic growth, particularly among small and medium-sized enterprises.
This structured engagement forms part of the EU’s Global Gateway initiative, which also backs key infrastructure projects such as the rehabilitation of Kariba Dam to strengthen energy security and support Zimbabwe’s transition to a greener economy.
The EU’s broader partnership with Zimbabwe spans agriculture, climate action, biodiversity, governance, and women and youth empowerment, with increasing emphasis on integrated, landscape-based development approaches.
At ZITF 2026, the statement noted that the Team Europe Pavilion serves as a hub for business engagement and knowledge-sharing, offering information on export requirements, technical support and opportunities for agricultural mechanisation.
The EU says its continued presence at ZITF underscores a long-term commitment to building “an inclusive and sustainable partnership” with Zimbabwe, as the country pursues its goal of attaining upper-middle-income status by 2030.
The fair ends on Saturday.
