THE Zimbabwe National Chamber of Commerce (ZNCC) this week signed a Memorandum of Understanding with the Iran-Africa Economic Co-operation Council which seeks to facilitate business between Iran
The Iran-Africa Economic Co-operation Council comprises Iran’s two business organisations — the Chamber of Commerce and the Chamber of Co-operatives.
Principal clauses of the MoU say both chambers will co-operate in promoting and facilitating business between the two countries.
The organisations have also committed themselves to receive and impart
information to potential investors from the two chambers. They have also agreed to facilitate joint ventures between business people of the two countries.
“This means that when business people from Zimbabwe wish to invest in Iran, the Iran-Africa Economic Co-operation Council becomes the port of call to provide appropriate information to the investors,” ZNCC president Luxon Zembe said.
Zembe said the Iranian chamber would provide sector-to-sector information, data on potential partners and information on resources available to external investors. The MoU also covers the exchange of commercial communication and technology between the two chambers.
“The two organisations will host business expos in both countries as a way of promoting trade between the two countries. The chambers will also provide facilities to potential investors from the two countries,” Zembe said.
He said the MoU would go a long way in implementing trade agreements between Zimbabwe and Iran although the trade agreements are yet to be finalised by the two governments.
The ZNCC has been scouting for new opportunities for its members. The organisation has standing MoUs with Mozambique where the chamber has opened an office to provide information on company formation, joint ventures and market research.
The chamber has also signed an MoU with Malawi and Zembe said they were “negotiating with business chambers in South Africa, China, India and Pakistan for similar trade agreements”.
He said they expected all the agreements to be concluded during the year.
ZNCC members, according to Zembe, will enjoy subsidised costs for trade missions in Iran by the Iranian business chamber.
“ZNCC members will be provided with targeted business opportunities in Iran, which means that our members will be networked with specific reputable companies and business people they can do business with in Iran,” Zembe explained.
He added that ZNCC members would receive protection from the Iranian chamber against unscrupulous business persons who pounce on new investors.