ZNCC, Indian firms finalise 2 agreements

THE Zimbabwe National Chamber of Commerce (ZNNC) has finalised two agreements with the Gujarat Chamber of Commerce and Industry and the Indo Africa Chamber of Commerce as a way of scouting direct investment channels in India.

The first deal was signed in Mumbai on the 13th of November and the second one was signed with the Indo Africa Chamber of Commerce in Gujarat on the 15th of November.

ZNCC chief executive officer, Mr Christopher Mugaga said the MoUs were meant to secure markets for Zimbabweans in the Indian market and for local companies to strike financial deals with Indian counterparts.

He told Business Chronicle that the Indian economy was mainly driven by small to medium enterprises (SMEs) and this led to them opening an office in Indian commercial hub of Gujarat to enhance business synergies.

“These MoUs are meant for direct channel for locals to scout for investment opportunities that are available in that country. We want to leverage our companies to strike financial deals with Indian companies.

“The Indian economy is mainly driven by the SMEs and we want to move together and talk in the same language in building business synergies. This has also led us in opening a new office in Gujarat the heart beat of Indian economy,” said Mr Mugaga.

He said they are working with ZimTrade and Zimbabwe Investment Authority to find strategic agreements that was going to help retool the industry.

Mr Mugaga also said they are expecting to host an Indian delegation next year.

“The Indian business community will come to Zimbabwe in the first half of next year on a business to business mission, as you know India is one of biggest investors in Zimbabwe’s economy since independence,” he said.

The MOUs will strengthen co-operation in the area of pharmaceuticals, agriculture, engineering and technology. — @ Kiyaz_Cool