The United Arab Emirates (UAE) has underscored its commitment to strengthening economic ties with Zimbabwe as the African nation vies for membership in the BRICS bloc. This strategic partnership was highlighted during the recent Zimbabwe-UAE Business Forum held in Harare.
A surge in trade between the two countries has been a key driver of their growing relationship. Zimbabwean exports to the UAE have skyrocketed from a modest US$96 million to a staggering US$1.9 billion in just a few years. This exponential growth has caught the attention of the international business community and positioned the UAE as a crucial market for Zimbabwean products.
Zimbabwe’s interest in joining BRICS is largely fueled by its economic challenges. The country has grappled with hyperinflation and a dysfunctional currency, leading citizens to rely heavily on the US dollar for stability. Membership in BRICS, a bloc known for its economic prowess and influence, is seen as a potential lifeline for Zimbabwe.
The UAE, as a new member of BRICS, is well-placed to offer valuable insights and support to Zimbabwe’s aspirations. During the business forum, UAE Ambassador to Zimbabwe, Jassim Mohamed Al Qasimi, emphasized the mutual benefits of strengthened trade relations. “The Zimbabwean-UAE forum is a testament to shared commitment to mutual growth and prosperity,” he stated.
Zimbabwean officials have reciprocated the enthusiasm, with Permanent Secretary in the Ministry of Foreign Affairs and International Trade, Albert Chimbindi, pledging full support for UAE businesses operating in the country. This collaborative approach is seen as a strategic move to bolster Zimbabwe’s chances of securing BRICS membership.
Also Read: Can BRICS Break the US Dollar’s Grip on Global Finance? – Implications for Global Economy
As the African continent continues to gain economic prominence, countries like Zimbabwe are actively seeking strategic partnerships to drive development. The growing alliance between Zimbabwe and the UAE is a testament to the potential of South-South cooperation and could serve as a model for other nations in the region.
With the BRICS summit approaching, Zimbabwe’s bid for membership is gaining momentum. The country’s strengthened ties with the UAE, coupled with its abundant natural resources and strategic location, position it as a strong contender for inclusion in this influential economic bloc.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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