Botswana inks �Cape to Cairo� trade deal

Pauline Dikuelo | Tuesday January 30, 2018 16:54

 

When ratified by at least 12 of member states’ parliaments, the tripartite free trade area agreement will come into force, creating the “Cape to Cairo” economic zone envisaged by colonialists of old and pan-Africans of new.

Thus far, only two countries have ratified the deal. The tripartite deal will create a single market of about 700 million people with an estimated gross domestic product of well over $1.4 trillion, experts say.

Speaking earlier today, Investment Trade and Industry minister, Vincent Seretse said the signing would boost intra trade by eliminating and reducing tariff barriers as well as through market expansion. 

“The agreement resonates well with the country’s NDP’s 11 aspirations of becoming an export-led economy. Entry into force of the agreement would therefore enable our local products to enjoy preferential treatment hence increasing export volumes,” he said.

Seretse said local products which have been identified under the agreement as having export potential include veterinary vaccines, pharmaceuticals, electrical and machinery, plastic, salt and salt products, carpets and other textile floor covering, just to mention a few.