3rd session of India-Zimbabwe Joint Trade Committee concludes in New Delhi
3rd Session of the India-Zimbabwe Joint Trade Committee (JTC) in New Delhi from 13 May 2024 to 14 May 2024 Economic Advisor, Department of Commerce, Ministry of Commerce & Industry, Government of India, Ms. Priya P. Nair and Chief Director, Economic Cooperation, International Trade and Migration, Ministry of Foreign Affairs and International Trade, Government of Zimbabwe, co-chaired by Ms Rudo M Faranisi.
Highlights of the 3rd session of the India-Zimbabwe Joint Trade Committee
- The Zimbabwean delegation included Mr Peter Hobwani, Ambassador Charge d’Affaires of the Embassy of Zimbabwe and over 15 representatives of relevant ministries.
- Both sides reviewed bilateral trade and noted the immense potential between the two countries.
- Both sides agreed to make concrete efforts towards increasing bilateral trade.
- Both sides have agreed to sign a Memorandum of Understanding (MoU) for regulatory cooperation in the fields of digital transformation solutions, tele-medicine, rough diamonds, instant payment systems and traditional medicine etc.
- Both sides have signed agreements in pharmaceuticals, geospatial sector, health care, machinery and mechanical equipment, vehicles, electrical machinery, mineral fuels, mineral oil and distillation products, plastic materials, iron and steel, agriculture and food processing, engineering sector, renewable energy, Identified several areas of focus to enhance bilateral cooperation in digital economy, textiles, capacity building etc.
- Both sides agreed to forge closer cooperation between investment promotion agencies and chambers of commerce.
- The deliberations at the third session of the India-Zimbabwe JTC were full of cordiality and vision, indicating the friendly and special relations between the two countries.
Joint Trade Committee (JTC)
- It is a bilateral structure that aims to promote trade and investment relations between two countries.
- The main objective of the JTC is to remove trade and investment barriers between the two countries, promote cooperation in new areas and strengthen bilateral economic relations.
- JTC plays an important role in strengthening bilateral relations and identifying new opportunities for trade and investment.
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