Botswana Investment and Trade Centre (BITC) is towards the end of next month expected to sign another memorandum of understanding with other Zimbabwean body mandated with facilitating foreign direct investment in the neighboring country.
In February this year during the Botswana-Zimbabwe Business Forum held in Gaborone simultaneously with President Emmerson Mnangagwa’s state visit, BITC signed a memorandum of understanding with ZimTrade, a trade promotion body in Zimbabwe.
The Forum, viewed as a positive step towards improving bilateral trade relations between the two countries, was attended by Mnangagwa and senior government officials and business people from both Botswana and Zimbabwe.
Partnership between ZimTrade and BITC was a key deliverable from a day of high-powered meetings, as it will see the two trade bodies sharing market intelligence, supporting each other’s capacity development as well as co-organizing trade development and promotional activities
Now that BITC has clinched a trade partnership with a ZimTrade, the local trade and investment promotion body is looking forward to partner with Zimbabwe’s ones-stop investment shop, Zimbabwe Investment Authority (ZIA).
As a trade and investment promotional body, the BITC Director – Corporate and Communications official, Kutlo Moagi said her organization saw it fit to have a strong partnership with Zimbabwe’s investment arm to open up opportunities for local manufacturers to set up there.
“The expectation is that the memorandum of understanding between BITC and ZIA will be signed during next month’s Zimbabwe International Trade Fair (ZITF) in Bulawayo,” said Moagi in a telephone interview.
On annual basis, BITC facilitates the participation of local companies at the ZITF to showcase their products at the premier tradeshow.
This year’s edition is set to run from April 24 to 28 under the theme: Sustainable Industrial Development-Inclusive. Competitive. Collaborative.
With ZIA on board, an optimistic Moagi said it will become easy for local producers to set up companies and subsidiaries in the neighboring Zimbabwe since the Zimbabwean authority was created for a quicker and easier facilitation of investment.
Moagi said Zimbabwe is endowed with supporting structures ranging from human capital to raw materials that can make it easier for locals to exploit with ease.
“It can be easy for locals to do the manufacturing in Zimbabwe and export,” she said.
She implored local businesspeople to take advantage of Botswana’s proximity to Zimbabwe and to make use of the bilateral trade and investment agreements between the two countries, as well as the favorable trade preferences offered by the Southern African Development Community (SADC) Trade Protocol.