President Emmerson Mnangagwa signed a Memorandum of Understanding with Belarus in 2023, aimed at promoting and protecting Belarusian investments in Zimbabwe. However, opposition legislators in the National Assembly have refused to approve the agreement, citing concerns over its potential impact on the country’s economy.

The agreement, which requires parliamentary approval to take effect, was presented to the National Assembly by Deputy Minister of Foreign Affairs, Sheila Chikomo. She urged MPs to approve the agreement by May 31, 2025, emphasizing its potential to promote investment and strengthen economic ties between the two countries.

However, opposition MPs from the Citizens Coalition for Change expressed strong reservations. Edwin Mushoriwa, MP for Dzivarasekwa, questioned the timing of the agreement’s presentation, suggesting it was designed to coincide with President Mnangagwa’s official visit to Belarus. He also raised concerns about the balance of trade between the two countries and the potential for exploitation by connected individuals.

Other opposition MPs echoed similar concerns. Mbizo MP Corban Madziwanyika argued that the agreement would primarily benefit Belarus, with Zimbabwe likely to import finished products such as tractors. Mutsa Murombedzi, another MP, called for the agreement’s deferment, warning that it could grant disproportionate power to foreign capital with little accountability.

In contrast, Zanu PF MPs, including Supa Mandiwanzira, strongly supported the agreement’s approval. The debate highlights the complexities and challenges of international investment agreements and the need for careful consideration of their potential impacts.
source – zimlive