ZwNews.com
Zimbabwe’s President Emmerson Mnangagwa and his South African counterpart Cyril Ramaphosa are meeting in Harare for the Bi-National Commission, with the former expected to put his begging cap on the table again.
The trade meeting is happening at a time the two countries’ business relations are tipped towards the south. The Southern twin being the chief exporter, while her Northern sister wears a net importer name tag.
As every country’s balance of trade is measured with its net exports, that brings in much needed foreign currency, Zimbabwe is falling on the way side, owing to its weak manufacturing sector. This has seen the country losing much in potential revenue for exporting raw products.
While South Africa is Zimbabwe’s biggest trade partner, the later imports more than it export. And as such South Africa is benefitting more. This also explains why is it that when Zimbabwe sneezes, South Africa also catches a cold.
Point of reference is what happened when Zimbabwe introduced Statutory Instrument 64, that imposed restrictions in goods to be imported, the move triggered violent protests down south.
Meanwhile, speaking before the two leaders’ meeting, Ramaphosa’s spokesperson Ms Khusela Diko confirmed that Zimbabwe is a chief importer, while her country is the prime exporter in the two countries’ business relationship.
“Trade co-operation between the two countries is at a high level to the extent that South African exports to Zimbabwe in 2018, amounted to approximately R30,8 billion (about US$2,1 billion), while imports from Zimbabwe amounted to approximately R3,6 billion (US$250 million).
“Thus placing Zimbabwe among South Africa’s top trading partners on the continent.
” Africa and Zimbabwe have good bilateral political, economic and social relations underpinned by strong historical ties dating back from the years of the liberation struggle,” she said.
The BNC’s Heads of State Summit, which will be graced by President Emmerson Mnangagwa and his SA counterpart, takes place on Tuesday. It is understood that six South African ministers – Lindiwe Sisulu (International Relations and Co-operation), Nosiviwe Mapisa Nqakula (Defence and Military Veterans), Rob Davis (Trade and Industry), Siyabonga Cwele (Home Affairs), Blade Nzimande (Transport) and Bogopane Zulu (Deputy Minister for Social Development) flew in ahead of Ramaphosa, while the other ministers accompanied him.
Zimbabwe is South Africa’s biggest trading partner, and the two countries enjoy several bi-lateral relations from socio-economic to political. Zimbabwe has been knocking its neighbour’s door with a begging bowl in hand.
However, South Africa could not help its biggest trading partner owing to its own internal challenges. Ramaphosa inherited a dying economy from his predecessor Jacob Zuma owing to his alleged corrupt practices.
Zuma stands accused of corruption and state capture, as he used cronies to syphon state funds. Ramaphosa is trying to clean Zuma’s mess ahead of a national election sometime this year, and is not expected to offer Mnangagwa any financial assistance.
