Zimbabwean Business Council in the UAE formed to i...

Zimbabwean Business Council in the UAE formed to improve trade

Zimbabwean Business Council in the UAE founder Rungano Innocent Nyaude,

Gilbert Munetsi

The establishment of a business council for Zimbabwe in Dubai will enhance trade volumes and corporate relations between the two countries whose main products of trade are precious stones and metals.

The Dubai Chamber of Commerce this week announced the birth of the body, the Zimbabwe Business Council, which seeks to promote commercial interests of Zimbabwe and Zimbabwean businesses in the Emirate. Under the arrangement, member companies in Dubai owned by Zimbabweans will also be covered, specifically in the area of promotion of cross-border business opportunities.

Bilateral trade between the UAE and Zimbabwe was at its peak during the period 2019-2022, with UAE imports from Zimbabwe reaching US$2.3 billion in 2021 while Zimbabwe, in turn, imported goods worth US$209 million from Dubai in the same year.

Maha Al Gargawi, the Executive Director of Business Advocacy at Dubai Chambers, said of the development:

“We aim to create new channels of economic cooperation between business communities in the emirate and promising markets around the world. Covering markets of strategic importance to Dubai, business councils provide the right platforms for businesses in the UAE and abroad to connect, collaborate and build mutually beneficial partnerships.

“These councils will support us as we further expand our presence across Africa, Latin America and the Middle East and attract more companies and investment from these regions.”

On behalf of the Zimbabwe partnership, one of the founding members, Rungano Innocent Nyaude, was very optimistic of fruit being reaped from the initiative.

“The Zimbabwean Business Council in the UAE looks to play a pivotal role in growing the Dubai-Zimbabwe business relations by bringing together Zimbabwean businesses operating in Dubai, building an ecosystem of coordination and networking which will, in turn, build further trade corridors between the UAE and Zimbabwe.

“The UAE is Zimbabwe’s second-largest export destination market and through coordination with stakeholders, it is our mission to play a part in strengthening the trade relations between the two countries and grow the business footprint of Zimbabweans in the UAE,” he said.