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Export development yields over P2billion

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STATE PRESIDENT: Masisi

President Mokgweetsi Masisi says export development and promotion efforts have yielded a total of P2.3.36 billion in export revenue during the 2017/2018 financial year.

This is an increase when compared with the P2.23 billion generated in the previous financial year.

Speaking at this week’s State of the Nation Address, Masisi said this gives comfort that the country is moving in the right direction as it strives to be an export-led economy.

To this end, the President said the country is tirelessly promoting the export of meat and fresh produce to new markets, utilizing existing meat export channels to export fresh produce.

“Further, we continue to negotiate Trade Agreements which guarantee us preferential access to third party negotiating partner states,” said Masisi.

In addition, Botswana is looking to increase its quota of 500 tonnes of beef and 500 tonnes of lamb to Norway.

Government is also trying to boost exports by developing growing local productive capacity for local industries in the regional and global markets.

As a result, Masisi says a comprehensive review of the Economic Diversification Drive is currently being undertaken in order to make it more relevant and impactful.

The review is expected to be concluded by end of this year.