Botswana Sets Course for Economic Diversification Under AfCFTA
Botswana has embarked on developing a national implementation strategy for the African Continental Free Trade Area (AfCFTA), a crucial step to maximize the benefits of the Agreement and boost intra-African trade.
A national consultative forum for the development of Botswana’s AfCFTA implementation strategy was held to gather insights from multiple stakeholders, shaping both the implementation strategy and action plan.
The one-day forum was organized by Botswana’s Ministry of Trade and Entrepreneurship in collaboration with the United Nations Economic Commission for Africa (ECA).
Speaking at the event, Deputy Permanent Secretary of the Ministry of Trade and Entrepreneurship, Goemeone Mogomotsi, emphasized that the strategy comes at a critical time to guide Botswana’s participation in the AfCFTA and ensure the country fully capitalizes on the opportunities presented by the Agreement.
“The strategy will allow us to align Botswana’s areas of comparative advantage with continental demand, with the ultimate goal of diversifying our economy,” Mogomotsi stated.
He further highlighted that the strategy would explore opportunities within continental value chains to optimize trade under the AfCFTA.
To support the effective implementation of the AfCFTA, Botswana has joined the AfCFTA Guided Trade Initiative (GTI) alongside 31 other State Parties. Led by the AfCFTA Secretariat, this initiative aims to facilitate trade between African nations by linking buyers and sellers while ensuring the agreement’s smooth execution.
“We fully recognize that reaping the benefits of the AfCFTA is not automatic. It requires deliberate and strategic interventions at both national and regional levels,” Mogomotsi noted.
Speaking at the forum, Stephen Karingi, Director of the Regional Integration and Trade Division at the Economic Commission for Africa, described the AfCFTA as a transformative opportunity for Botswana and the continent as a whole.
“The AfCFTA is a game-changer, set to create the world’s largest free trade area and unlock unprecedented economic potential,” Karingi remarked.
The consultation process will continue, with further engagements planned to refine and validate the strategy, ensuring it aligns with Botswana’s broader economic aspirations before moving to full implementation.
Source : ENA
