President Cyril Ramaphosa of South Africa (bottom 2) and President of Botswana Mokweetsi Masisi (bottom right) attend the Botswana-South Africa Business Forum Roundtable on August 4, 2022 in Gaborone, Botswana. Botswana President Mokweetsi Masisi said on Thursday: The southern African country is working tirelessly to improve its exports to South Africa. (Photo provided by: Tsekiso Tebaro/Xinhua)
GABORONE, Aug. 4 (Xinhua) — Botswana's President Mokgweetsi Masisi on Thursday said the South African country is working tirelessly to improve exports to South Africa.
Speaking at the Botswana-South Africa Business Forum roundtable held in Botswana's capital Gaborone on the sidelines of the 28th anniversary of diplomatic relations between the two countries, Masisi said Botswana wants to redress the imbalance in its economic relationship with South Africa. . .
“The trade situation between Botswana and South Africa remains skewed in favor of the latter and should improve dramatically towards stabilization,” Masisi said.
Between 2017 and 2021, Botswana exported goods worth P31 billion (approximately US$2.5 billion) to South Africa and imported goods worth P210 billion, according to figures from Botswana's statistics agency, Statistics Botswana. .
Mr Masisi said Botswana imports on average P42 billion, but only exports goods worth P6 billion annually.
“This situation needs to be reversed,” Masisi said, adding that increased exports to South Africa are desperately needed to support Botswana's aspirations for an export-led economy, while also leading to job creation, especially for the youth. It added that it would encourage export diversification.
He said Botswana's exports to South Africa included diamonds, beef and soda ash, while Botswana's imports included grains, cars and beverages.
South African President Cyril Ramaphosa, speaking at the same event, said that although the two countries' bilateral relations had grown over the years, there was a need for much higher levels of trade and investment between the neighbours. ■
South African President Cyril Ramaphosa (bottom 2) and Botswana President Mokgweetsi Masisi (bottom right) attend the Botswana-South Africa Business Forum Roundtable on August 4, 2022 in Gaborone, Botswana. Botswana President Mokgweetsi Masisi said on Thursday. The southern African country is working tirelessly to improve its exports to South Africa. (Photo provided by: Tsekiso Tebaro/Xinhua)