HARARE – Zimbabwe and South Africa are set to sign a long delayed bilateral investment protection agreement by end of next month, Zimbabwe’s Economic Planning Minister Elton Mangoma has said.

Signing of the agreement between the countries that are each other’s biggest trading partner on the continent in addition to being strong political allies was postponed on the eleventh hour last March, apparently after Harare objected to a clause in the accord referring to land and investments on land.

Mangoma did not disclose further details on the trade pact but said it could have been signed months ago had it not been of elections in South Africa last April that saw new personnel taking over at government ministries and departments involved in negotiating the agreement. 

"We are going to sign the BIPA agreement before the end of August," Mangoma said

"This could have been done earlier but as you know there were elections in South Africa, which resulted in changes at various ministries. This is an issue we believe could have been addressed some time ago."

President Robert Mugabe’s chaotic and often violent programme to seize white-owned farm land for redistribution to landless blacks also saw several farms owned by foreigners and protected under bilateral trade agreements between Zimbabwe and other countries seized without compensation.

The seizure of private land has raised questions about Zimbabwe’s commitment to uphold property rights as well as agreements entered with other countries.

By Zimonline