Botswana eyes trade with UAE to bolster economic growth

17 Mar 2022

Botswana President, Dr. Mokgweetsi Masisi stated that Expo 2020 Dubai is the ideal setting for his country to showcase its potential to investors, to help fuel business and economic growth.

"Botswana has an established base for multilateral investments into several industries, especially, mining, tourism and food," Masisi stated.

The President said Botswana has regional trade agreements which can be advantageous to businesses: "We want foreign investors to succeed with our strong ecosystem for them to thrive."

During the Botswana Investment and Trade Conference held in Dubai, President Masisi addressed senior investors and key officials from government and private sector entities within Botswana and the UAE.

The Botswana President stated: "Our ministries and companies are here [in the UAE] and finding new roadways of connecting with investors."

He went on to say that the legal system in the country ensures investment protection, and highlighted Botswana’s political stability, which provides an encouraging environment for foreign investors.

As per the Botswana Investment and Trade Centre, the country provides investment incentives, the United States-Africa Growth & Opportunity Act – allowing opportunities for access to U.S. markets, free of duties and quotas – 15% manufacturing tax, access to the EU market and duty-free access to South Africa, Namibia, Lesotho and Swaziland.

In addition, Botswana offers special access to markets in 14 Southern African countries, low personal income tax, and a sustainable low tax environment, amongst other factors.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade commented: "The UAE and Botswana share a longstanding friendship and partnership, underscored by deep trade and investment ties. In 2021, for example, the total value of non-oil trade between the two nations reached US$2.5 billion, reflecting 85% growth compared to 2020 and 80% growth compared to 2019.

"The Botswana Pavilion at Expo 2020 Dubai shows us how strategic partnerships have helped the country accelerate the movement of goods, ideas and wealth," Dr. Thani added.