01 Mar 2020

Zimbabwean Minister of Foreign Affairs and International Trade, Lt. Gen. Dr Sibusiso Moyo has underscored the need for Botswana and Zimbabwe to further strengthen economic cooperation. 

He said the two countries needed to continue improving on investment environment and attract private sector to invest as well as trade in both countries.

In his opening statement at the Bi-National Commission session on Thursday, Dr Moyo  said it was unfortunate that the level of trade between the two countries has been on a downward trend considering the diversity and distinctiveness of both economies. 

Trade, he said was critical to the two countries’ prosperity as it fueled economic growth, createed jobs and raised living standards hence it should be prioritised in the bilateral partnership.

Dr Moyo said he looked forward to the conclusion of discussions to operationalise the P1 billion line of credit facility, which would be a huge enabler of bilateral trade.

Furthermore, he stressed the need to expedite the conclusion of agreements that would eliminate market restrictive measures like the Agreement on the Avoidance of Double Taxation, the draft memorandum of understanding (MOU) on cooperatives development and the draft MOU on promotion of small and medium enterprises.

He said business sectors from both countries were actively cooperating with a view to enhancing the vibrancy of their economies. 

He acknowledged that 17 companies from Botswana attended the Zimbabwe International Trade Fair last year, and 15 from Zimbabwe attended Botswana Global Expo in August 2019. 

“I wish to encourage our business people to continue participating at these trade fairs as they offer vast opportunities to connect with global markets,” he added. 

He emphasised the need to develop necessary infrastructure that facilitate exchange of goods and services to boost trade. Dr Moyo  appreciated that both countries were currently cooperating on two major infrastructure projects, the Ponta Techobanine railway project and the Kazungula Bridge Project. 

The two projects, he said were some of the major SADC economic integration success stories. 

Once completed, Dr Moyo revealed that the bridge would not only boost trade and commerce, but further enhance economic activities and prospects of other land-locked nations in the region.

Kazungula Bridge, he said would also facilitate trade through reduced transit time for freight and passengers, reduced time-based trade and transport cost as well as improved border management operations arising from the one border facility.

Dr Moyo informed the participants that the economic prosperity alone did not create successful societies, noting that security was a prerequisite for the successful development of the two countries. 

“That is why discussions in our Sub-committee on Defence and Security are critically important as they create a fertile environment for cooperation in other sectors that drive our economies. I am therefore delighted to learn that there are efforts to combat trans-boundary crimes,” he said.

The minister noted with satisfaction that the two countries continued to consult and support each other at the bilateral political and diplomatic level and at regional, continental and international fora. 

He said in 2019 the fraternal spirit was demonstrated as the two countries joined hands towards a common position at the CITES Cop 18 meeting where they called for the review of the 1989 CITES ban on global ivory trade, which had done more harm than good to the elephant conservation efforts.

He assured Botswana continued commitment to working together on issues of mutual interest. 

He thanked Botswana, in her capacity as vice chair of the SADC Organ on Politics, Defence and Security for her valued support to Zimbabwe and assured unflinching support when Botswana assumes the chairmanship in August this year. Ends