Belarusian And Zimbabwean Ministries of Industry Sign Memorandum Of Cooperation

The country is one of the poorest countries on the African continent.

The Ministry of Industry of Belarus and the Ministry of Industry and Trade of Zimbabwe signed a Memorandum of Cooperation. The document was signed by the heads of departments of the two countries Aliaksandr Rahozhnik and Sithembiso Gile Gladys Nyoni.

The goals of the document are "raising bilateral relations to a higher level, expanding friendly relations and mutually beneficial ties."

According to the document, the parties will carry out activities to develop international specialization and cooperation in production, determine priorities in industries, as well as to promote, develop and implement joint projects and programs.

"During the talks, there was a significant potential for expanding trade and economic cooperation between the two countries, the implementation of which will promote investment in industrial sectors, and intensify mutual industrial cooperation," the Belarusian Ministry of Industry said in a press release.

According to Rahozhnik, the document is of a general nature and will provide specific obligations, taking into account the interests of the two countries.

Recall that recently, Bloomberg analysts called the national currency of Zimbabwe "almost dead". In 2024, the country's currency lost a third of its value against the US dollar. High inflation has been observed in the country since 2008, when price growth in annual terms reached 231,000,000%.

At the end of last year, the Basel Institute on Governance in Switzerland published a global ranking of countries in the world on combating money laundering and terrorist financing – the Basel AML Index. Belarus took the 88th place next to Zimbabwe (95th place).