Saturday, May 19, 2012

(HERALD) Sanctions affecting trade, says South Korean envoy

Sanctions affecting trade, says South Korean envoy
Saturday, 12 May 2012 19:46
Sunday Mail Reporter

The illegal economic sanctions imposed on the country by the West have negatively affected trade between Zimbabwe and the rest of the world, South Korea’s Ambassador to Harare, Mr Kwang-Chul Lew, has said.

Speaking at a policy dialogue meeting organised by Sapes Trust in the capital last Thursday, Mr Kwang said trade relations between his country and Zimbabwe have not been immune to the illegal embargo.

“These sanctions have had a negative impact on our relations. Reports that Zimbabwe is under sanctions have a psychological impact on business people from our country.

“There is considerable interest in Zimbabwe by South Korean businesspeople, but not much business has been conducted between the two countries because of the imposition of sanctions.

“Our embassy is currently working on a programme to give our business leaders the true picture of the Zimbabwean economy as a way of encouraging them to come and invest here,” he said.

Ambassador Kwang disclosed that businesspeople from his country are eager to invest in infrastructure development.

“We are interested in investing in the construction of roads and railway infrastructure and prepared to send our specialists to assist in those areas,” he said.
Mr Kwang hailed the cordial relations between the two countries.

“We have kept good friendly relations and some good fruitful engagements,” he said.
He said it was important for developing countries like Zimbabwe to adopt a protectionist economy so as to protect its interests.

“The policy (protectionist) is very natural otherwise the country’s economy will be completely occupied by foreigners.

“However, as the economy grows, the policy becomes less meaningful.”

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