Zimbabwe searches technical assistance from India

India,March 31 – Union Commerce, Industry and Textiles Minister Anand Sharma Thursday met the Prime Minister of Zimbabwe, during his visit to Harare for the India-Zimbabwe Joint Trade Committee (JTC) Meeting and reviewed the bilateral trade and investment relations.

During the meeting, both the Ministers emphasized that the present levels of bilateral trade and investment were much below the potential. In the year 2012, the India-Zimbabwe bilateral trade was USD 166 million, with balance of trade heavily in favour of India.

The Zimbabwean Minister Morgan Tsvangirai sought investments and technical assistance from India to enable Zimbabwe in revival of its manufacturing sector, and to achieve greater value addition and beneficiation of natural resources, which will also enable Zimbabwe to increase the value of its exports.

The Zimbabwean side also presented to the Indian side the potential joint venture investment projects from the Industrial Development Corporation of Zimbabwe for consideration of the Indian industry.