United Kingdom Ambassador to the World Trade Organisation and UN in Geneva, Julian Braithwaite has urged Zimbabwe to respect human rights and rule of law which he said was the only way to unlock significant investment in the country.

Braithwaite made the remarks during WTO Trade Policy Review of Zimbabwe.

“Meaningful progress on reforms, along with respect for human rights and the rule of law, are the only way to sustainably deal with Zimbabwe’s underlying challenges, unlock significant investment and bring about a better future for Zimbabwe and its people,” Braithwaite said.

“As noted in the reports prepared for this Review, corruption continues to hamper Zimbabwe’s development by capturing public and private resources, distorting economic decision making and undermining governance and accountability.

“We continue to urge Zimbabwe to guarantee the independence of the Anti-Corruption Commission and the courts and to take the necessary steps to address corruption and tackle entrenched vested interests and illicit financial flows.

Braithwaite said the UK was committed to supporting a more prosperous, peaceful and democratic Zimbabwe, adding the country had significant economic potential and high human capital.

“We welcomed the Government of Zimbabwe’s commitment to economic and political reforms and hope to see more trade and investment with Zimbabwe in the future. We believe there is notable potential in the renewable energy, agriculture and financial services sectors, sectors with the potential to improve livelihoods and financial inclusion.

“Whilst we recognise the challenges caused by external shocks such as Cyclone Idai and now Covid-19, we continue to be deeply concerned by the lack of fundamental reforms. This is leading to the economic crisis that most Zimbabweans are facing today. Inflation has continued rising, with the year on year inflation rate for the month of July 2020 standing at 838%. Extreme poverty has increased and humanitarian needs are rising.