Zim, SA hold bilateral talks on economics and trade

By Derick Tsimba

Zimbabwe and South Africa held a bilateral closed door meeting on economic and trade relations in Harare yesterday, to discuss issues affecting citizens of both countries who are stuck at the Zimbabwe and South African border, the Harare Post can report.

Speaking to journalists after a courtesy call on Minister of Foreign Affairs and International Trade, Dr Sibusiso Moyo at his Munhumutapa offices, South African Ambassador to Zimbabwe, Mr Mphakama N. Mbete said they discussed bilateral economic and trade relations, challenges faced by Zimbabwean citizens who are stuck at the Zimbabwe side who want to cross to South Africa and matters surrounding South African Company, Old Mutual Zimbabwe.

“We were discussing with the Minister about how to strengthen bilateral economic and trade relations in particular in a difficult COVID-19 situation. Practically issues about the boarder, what measures are being taken on both sides to strengthen the border, challenges that have arisen that we need to attend to such as some Zimbabweans being stuck on the Zimbabwean side wanting to go to South Africa because of various reasons.

“Issues relating to matters that have arisen around Old Mutual an old South African Company that has been working in Zimbabwe for so many years and what to do about that. So we had a good understanding of measures that are being taken down to try and find solutions to matters related to Old Mutual,” he said.

In a bid to stabilize its currency, the Government wants to eradicate the Old Mutual Implied Rate.  Currently, Government has suspended the Zimbabwe Stock Exchange (ZSE) to investigate and reaffirm its policy position on the ZSE to ensure that no company manipulates ZSE at the expense of the nation.