Zimbabwe and Germany in first economic engagement

Finance and Economic Development Minister Patrick Chinamasa and Ambassador Georg Schimdt after the press briefing

Finance and Economic Development Minister Patrick Chinamasa and Ambassador Georg Schimdt after the press briefing

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Lorraine Muromo

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ZIMBABWE and Germany, which is the largest economy in Europe, today held their first economic engagement following years of unease between the two countries.

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The European Union block, to which Germany is a member, imposed sanctions on Zimbabwe on February 18, 2002.

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Briefing journalists after meeting with Germany director general for Sub-Saharan Africa Ambassador Georg Schimdt, Finance Minister Mr Patrick Chinamasa said the engagement is a significant move towards fostering relations between Harare and Berlin.

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Minister Chinamasa indicated that Government representatives will visit Berlin for further engagement on economic development, rule of law and the country’s debt to Germany.

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Zimbabwe owes more than €739 million to Germany.

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“This is the first contact we have had since the imposition of sanctions on Zimbabwe by the West and we are looking forward to good political and economic opportunities.

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“We have also talked about rule of law, which is critical in attracting foreign direct investment,” he said.

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The meeting also created a platform for Zimbabwe to appeal for support for Zimbabwean AfDB presidential candidate Mr Thomas Sakala.

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Ambassador Schimdt said Zimbabwe needed to create an enabling environment that attracts FDI.

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“We talk about the current economic situation and how it can be developed further,” he said adding political stability and rule of law were important for economic development,” he said

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