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South Africa: Botswana and NW to Develop Economic Relations
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BuaNews (Tshwane)
17 April 2008
Posted to the web 17 April 2008
Bathandwa Mbola
Mmabatho
A trade and investment seminar aimed at strengthening ties and developing economic relations between Botswana and the North West is scheduled to take place this month.
Hosted by the South African High Commission in Botswana, in partnership with Invest North West (INW) and the Development Bank of Southern Africa (DBSA) the seminar will be held in Gaborone, Botswana, on 24 April.
"The mission will enable the North West province to maintain its place in the highly competitive global economic environment that has enveloped developing countries with India and China emerging as preferred destinations," said North West spokesperson, Cornelius Monama on Wednesday.
With an annual production worth about R28 billion, the economy of the province is twice the size of Botswana and about the same size as the economy of Kenya.
This event, he added, is also intended to give business in Botswana the possibility of exploring business opportunities within the North West while allowing business luminaries from Botswana to witness the importance of strengthening relations with the province and its institutions.
The mission is intended to act as an information platform on trade and investment opportunities presented by the country, and the North West in particular, and Botswana, he said.
At the core of this trade and investment initiative is to extend trade and investment opportunities in the region and to spread trade and investment benefits to other areas in the Southern African Development Community (SADC).
Mining is one of the key industries in the province and contributes 42 percent to GGP, followed by agriculture with 13 percent and manufacturing with 12 percent.
The total wealth created in South Africa amounted to R430 billion in terms of GDP. Of this, the North West contributed R20 billion.
Since 2004, North West's economic growth per annum has consistently out-performed its annual population growth.
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The province has been registering steady economic growth and prosperity, our GDP has grown from R58 billion in 1996 to more than R72 billion in 2006.
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