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RATIFICATION OF THE AGREEMENT BETWEEN THE REPUBLIC OF ZIMBABWE AND THE GOVERNMENT OF THE UNITED STATES OF AMERICA ON THE PROMOTION AND RECIPROCAL PROTECTION OF INVESTMENTS

THE DEPUTY MINISTER OF FOREIGN AFFAIRS AND INTERNATIONAL TRADE (HON. MUSABAYANA):  I move the motion standing in my name that;

WHEREAS Section 327A of the Constitution of Zimbabwe provides that an international treaty which has been approved by Parliament;

AND WHEREAS the agreement between the Republic of Zimbabwe and the Government of the United States of America on the promotion and reciprocal protection of investment was signed on 20th January 1999 on behalf of the Republic of Zimbabwe;

AND WHEREAS Article 19 of the agreement provides for entry into force and termination;

NOW THEREFORE, in terms of Section 327A of the Constitution of Zimbabwe, this House resolves that the aforesaid agreement be and is hereby approved.

HON. K. PARADZA:  Thank you Madam Speaker.  This agreement is very important but unfortunately, the American Government has imposed sanctions on us through ZIDERA and so it is going to make it difficult for us to trade right now with American companies.  Through you Hon. Speaker, I would like to call on the American Government to remove these illegal sanctions on Zimbabwe and also to repeal ZIDERA so that we will be able to trade freely with companies in the US in a normal situation, not as it is now because most of our companies are unable to borrow money offshore and they are unable to buy new equipment because of these sanctions.

So Madam Speaker, while we are going to approve this agreement with the American Government, let it be noted that Washington should at least remove these illegal sanctions on us.  Thank you Madam Speaker.

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