Look out for business opportunities from TICAD Sum...

Look out for business opportunities from TICAD Summit – Envoy

Zimbabwe is optimistic there are economic benefits to be derived from the eight edition of the Tokyo International Conference on African Development (TICAD) which takes place in Tunisia on Saturday, August 27, and Sunday, August 28.

Zimbabwe’s Ambassador to the AU and Ethiopia, Taonga Mushayavanhu, has said there is need for the creation of an investment-friendly environment for the country to reap fruit from participation and inclusion of the country in the summit.

“There is always a portion for Japanese companies investing in Africa, so there are prospects for Japanese investments coming into Africa; and then there are prospects for trade between Africa and Japan, in particular Zimbabwe.

“An investment-friendly environment is one of the important areas of TICAD when they put money on the table,” he said from Tunis Thursday

This is the second time the convergence will be held in Africa, the first having been in 2016 when Kenya was host.

TICAD is an annual conference, co-hosted by Japan, with an aim to promote high-level dialogue between African leaders and development partners in the presence of international organisations, the private sector and civil society.

The United Nations, UNDP, the African Union Commission and the World Bank assist in collaborating.

Zimbabwe and Japan trade

Zimbabwe Imports from Japan was US$43.31 Million during 2020, according to the United Nations COMTRADE database on international trade. Used car imports account for the major value.

While there may currently be no binding agreements between Japan and Zimbabwe, the former has assisted the country in projects that include construction of the Chirundu-One-Border-Post, Kazungula bridge and Nyakomba Irrigation Scheme in Nyanga.

There are prospects for the two countries to do beneficial business to Zimbabwe in the areas of railway rehabilitation, water treatment, telephone manufacturing, metal fabrication, mining, tourism and infrastructural development.

Reciprocally, Zimbabwe can export fruit, herbs, tea and coffee, basketwork, cigars and fresh flowers, which products have the potential to earn it the much-needed foreign currency

Potential exports between Japan and Zimbabwe