He said as Africa is becoming a preferred global destination for Foreign Direct Investment (FDI), government is working hard to facilitate trade between Botswana and other countries. He revealed that pre-feasibility studies for the Trans-Kalahari railway line are underway. "We are still undergoing pre-feasibility studies and right now we have no deliverables because we have to agree on the funds as the three countries (involved in the project)," he said.Rakhudu was however happy that the Kazungula Bridge project, which is funded by Zambia, Botswana and main financier, Japan, is ongoing.Botswana has shed P885.9 million towards the project which is expected to promote regional economic development and integration in the SADC region. "At present, ferries are being used to transport people and goods over the Zambezi River, limiting not only trade between Botswana and Zambia, but also the region. We are trying to reduce dependence on one road, which is South Africa. These roads will enable us to access most markets easily," he said.
The bridge will drastically reduce time, distance and transportation costs between Botswana and Zambia.Rakhudu explained that his government has signed several trade protocols with a number of countries relating to free movement of goods in the region and special preferential markets through the Africa Growth Opportunity Act (AGOA), the EU and the Zimbabwe credit line."I therefore, urge you to introspect and see how you can position your companies to take full advantage of these trading opportunities. I know that some of the imminent challenges your companies are facing include lack of quality control certification and required international accreditation or certification and adequate working capital," he said.
