HARARE – Zimbabwe and South Africa are expected to sign by end of this month a long-delayed bilateral investment protection agreement (BIPA), after Harare finally approved the draft, Zimbabwean industry minister Welshman Ncube said on Wednesday.

Signing of the agreement between the countries that are each other’s biggest trading partner on the continent in addition to being strong political allies has on several occasions been postponed on the eleventh hour, apparently after Harare objected to a clause in the accord referring to land investments.

"Cabinet has approved the singing of the BIPA agreement with South Africa," Ncube said at the launch of a Confederation of Zimbabwe Industries (CZI) manufacturing report yesterday.

"I spoke to (South African Trade) Minister (Rob) Davis in South Africa and he confirmed having received the documents, he said the documents will be forwarded from the solicitor general to the presidency (Jacob Zuma) as they are now ready for signing. On our part we are ready to sign, we would have to sign before month end which is next week."

Ncube did not say whether Zimbabwe had accepted the demand by the South Africans to have protection of land and related property rights included in the agreement.

President Robert Mugabe’s chaotic and often violent programme to seize white-owned farm land for redistribution to landless blacks also saw several farms owned by foreigners and protected under bilateral trade agreements between Zimbabwe and other countries seized without compensation.

The seizure of private land has raised questions about Zimbabwe’s commitment to uphold property rights as well as agreements entered with other countries.

Meanwhile Ncube also expressed concern over delays on the aid regional countries pledged to Zimbabwe to assist the unity government revive the country's shattered economy.

"The pledges and the commitments from neighbours on the flow of funds they had pledged earlier has been slow," he said.

"We are concerned on the bureaucratic delays, we hope that this will be expedited so that we can have access to the money to use in manufacturing sector which is critical."

Harare says it requires US$10 billion to revive the economy and restore basic services such as health, education and provision of clean water in cities but has to date raised nearly US$2 billion in credit lines from African financial institutions and countries.