Industrialisation drive impresses Botswana
BOTSWANA has hailed Zimbabwe’s Second Republic for its forward-thinking industrialisation policies and innovative business approaches as the strategic initiatives have borne fruit, fostering increased trade between the two countries.
Speaking at the Botswana Buyers Forum during the recently concluded Zimbabwe International Trade Fair (ZITF), Botswana Ambassador to Zimbabwe, Sarah Sethabile Molosiwa highlighted the positive impact of these policies, noting that such collaboration and mutual appreciation contribute to the growth and prosperity of both countries.
The Botswana Buyers Forum, organised by the Botswana Investment and Trade Centre (BITC) in collaboration with the Botswana Embassy in Harare, served as a platform for business interactions and connections between the two countries.
The event aimed to connect buyers and distributors, fostering opportunities for trade and collaboration.
Ambassador Sarah Sethabile Molosiwa emphasised the significance of Zimbabwe as a crucial market for Botswana and reciprocally, Botswana’s importance as a market for Zimbabwean products and services.
She acknowledged the market access opportunities created by the Zimbabwean government under the leadership of President Mnangagwa.
“Let me recognise market access opportunities created by the Government of Zimbabwe under the able leadership of the President of the Republic of Zimbabwe, His Excellency Dr Emmerson Dambudzo Mnangagwa.
President Mnangagwa
“Botswana can benefit immensely from Zimbabwe in terms of industrialisation policies and innovative ways of doing business, skills and knowledge transfer and business partnerships,” she said.
“At present, there is an impressive growth of trade between Botswana and Zimbabwe and we believe such forums present avenues to explore other products that can be traded between the two countries.”
In 2023, Botswana exported goods worth US$81,06 million to Zimbabwe, including commodities like salt, bricks, batteries, vaccines, footwear and stationery.
The impressive growth in trade between Botswana and Zimbabwe underscores the importance of such forums.
The bilateral ties between Zimbabwe and Botswana were officially elevated to the bi-national commission (BNC) level in August 2018, signifying a significant step in enhancing co-operation across political, economic and social spheres.
The inaugural session of the BNC took place the following year. Zimbabwe and Botswana have enjoyed cordial bilateral ties since pre-independence times, which have been amplified under the Second Republic led by President Mnangagwa.
ZimTrade and the Botswana Investment Trade Centre (BITC) signed a memorandum of understanding in 2018 to facilitate collaboration and co-operation between the two organisations, which has culminated in several business-to-business missions happening outside the realms of the BNC Business forum.
USD: Image taken from Shutterstock
Already, the two countries have a bilateral trade agreement that is governed by Statutory Instrument (S.I.) 192 of 1988, which allows preferential treatment of goods originating from the two neighbouring states, that is, goods grown, produced or manufactured from both nations.
Under this deal, goods originating from either of the trading partners are exempted from payment of customs duties on condition that the goods meet a minimum of 25 percent local content.
While BITC focuses on investment promotion, attraction and export development, ZimTrade plays a pivotal role as Zimbabwe’s trade development and promotion agency.
These collaborative efforts contribute to the strengthening of economic ties and mutual prosperity between Botswana and Zimbabwe. —-chroicle
