Bots, Zim explore trade opportunities
Isaac Pinielo | Wednesday October 28, 2015 14:29
Last week, business people from the Confederation of Zimbabwe Industry and Business Botswana met in a forum to strengthen trade ties between the two countries’ business communities and consider joint venture opportunities.
The Botswana Investment and Trade Centre (BITC) executive director of strategy and competitiveness, Keletsositse Olebile said his organisation undertakes market surveys in the region and abroad. One such survey was completed in 2014 in Zimbabwe.
“Our market surveys seek to enhance existing markets and explore new ones for Botswana exports,” he said.
Olebile also noted that the aim is to understand, in addition to the trade regime, other issues affecting exports such as distribution channels, prevailing competition, consumer appetite and growing trends in the market as well as the level of bilateral trade.
He said consequently, they see more exports from Botswana into Zimbabwe, noting that Botswana’s exports to Zimbabwe have averaged just over P1 billion in 2014.
In contrast, he said, Botswana’s imports from Zimbabwe were relatively averaging P324 million consistently between 2011 and 2013.
Botswana’s exports are concentrated on nickel matte and related products, consumables such as salt, live animals, milled products, beverages, cereal preparations and general consumer products.
“Thus trade between the two countries is growing. The study found out that there is potential for more exports into Zimbabwe,” said Olebile.
President of the Confederation of Zimbabwe Industry, Busisa Moyo said Zimbabwe has a location advantage as it is a gateway into the rest of Southern Africa.
He noted that the country has opportunities in infrastructure, mining, agriculture, manufacturing and tourism.
According to Moyo, both Zimbabwe and Botswana have large import bills on food, textile and other sectors and export minerals. He added that using Zimbabwe as a gateway to northern markets will reduce industrial dependence on South Africa.
He further pointed out that Botswana has a number of business opportunities that Zimbabwean companies could explore.
“There are key attractions about Botswana and it is linked to Zimbabwe by a rail network and markets like Francistown are close to Zimbabwe. The country has a large Zimbabwe Diaspora community that is familiar with Zimbabwean brands and products,” he said.
He added that the Botswana economy was diversifying hence offering huge business opportunities to Zimbabwean companies.