04 Jun 2024

Botswana will utilise the opportunity offered by the business segment of this week's Korea-Africa Summit to  build lasting trade relations in key thematic areas that are most likely to yield fruitful results.

Assistant Minister of Trade and Industry, Ms Beauty Manake revealed in an interview with BOPA as a high powered delegation, led by President Dr Mokgweetsi Masisi descended on Seoul, Republic of Korea for the summit of 48 African states hosted by the South East Asian economic powerhouse.

Ms Manake said Botswana, through the President as the country’s chief diplomat, her ministry, the Botswana Investment and Trade Centre as well as some invited Batswana entrepreneurs who have established Korean trade links, would collectively work on wooing investors and fostering commercial partnerships with Korea.

“The Business Summit will afford us and sister African states the opportunity to engage with the Korean government and businesses on trade opportunities that exist here, and how Africa could partner with Korea through the African Continental Free Trade Agreement. As Botswana we will also look at our own direct interest, the niche economic opportunities we could offer and derive from Korea,” Ms Manake said.  She noted that Korea had performed well in information and communications technology (ICT), automobile industry, education, waterworks technology and other sectors that are of particular interest to Botswana.

“Since Dr Masisi ascended to the presidency in 2018 he has focused on driving the country towards the fourth industrial revolution; and digitalisation is core to the Reset Agenda. Korea is one of the most digitally advanced countries in the world; their government systems are automated, their private sector is digitally advanced and citizens have access to digital technology. We would like to mine on this experience to learn and partner with Korea, also to improve our service provision through improving mechanised technologies,” Ms Manake said.

She said as Botswana sought investment in the digital field to help enable modernising of the country's ICT industry, the country also sought to derive greater value from its traditional economic mainstay, the diamond trade. 

“Our intention as a country is to improve the economic yield we reap from our diamonds through value addition and downstream activities, and we could see how we could work with Korea. They also invest heavily in research and development; they have good waterworks systems, and these are some key niche areas we want to explore. Tourism is another sector we will be marketing here,” she said.

The summit commenced yesterday with heads of state and government and representatives joining the Korean leadership, plus delegates from international organisations, big business, academia and civil Society in dialogue under the theme: The Future We Make Together: Shared Growth, Sustainability and Solidarity. ends