SWAKOPMUND: Botswana President, Mokgweetsi Masisi expressed the need for more resources to be allocated to events like the Swakopmund International Trade Exposition (SWAiTEX) that convene businesses and visionaries in order to enhance intra-African trade.
Masisi who was the guest speaker at the official opening of SWAiTEX on Wednesday here, noted that this is in an effort to dispel misconceptions such as the fallacy that African nations engage in insufficient trade among themselves under the African Continental Free Trade Area (AfCFTA).
‘With only a 15 per cent level of intra-African trade, there is ample room for improvement, hence, as leaders, we have pledged at the continental level to facilitate the seamless movement of people, goods, and capital to intensify trade within the African continent,’ he lamented.
Masisi emphasised that the wealth of information to be exchanged during expos such as SWAiTEX will help bridge information disparities and thereby motivate and empower participating companies to ac
hieve unprecedented levels of business expansion.
The president expressed that Namibia and Botswana have yet to fully tap into their bilateral economic prospects, with diamond exchange being the primary bilateral trade between the two.
‘In the year 2023, Botswana imported goods valued at US.dollars 473 million (N.dollars 8 743 523 250), with diamonds comprising 93 per cent of this total. Besides diamonds, Botswana also exports commodities such as cement, electrical energy, cement clinker and pasta to Namibia,’ Masisi said.
President Nangolo Mbumba described the relationship between Namibia and Botswana as a breath of fresh air, amidst a world currently witnessing rising geo-political tensions.
Mbumba lauded the peace, unity and respect shared between the two countries.
‘The relations between Namibia and Botswana, characterised by kinship, good-neighbourliness and mutual respect, must be treasured. Historically, whenever Namibians have found themselves in tight corners, they have looked east, we deeply ap
preciate Botswana’s historic support and assistance to our people,’ Mbumba described.
SWAiTEX, which is on its 10th edition, is an annual event led by the private sector, organised by the Namibia Chamber of Commerce and Industry. This major business expo offers integrated seminars and workshops, in addition to exhibitions.
The event which ends on Saturday, is taking place under theme: Efficient connectivity and resource beneficiation for sustainable growth in Africa.
Source: The Namibia Press Agency