Thursday, May 30, 2024

BITC eyes South Korean, Angolan markets

Botswana Investment and Trade Centre (BITC) says it will embark on investment and trade missions to Luanda, Angola as well as South Korea. Both missions will coincide with   President Ian Khama’s state visits to the respective countries. 

BITC Corporate Communications Director, Kutlo Moagi said the Angola mission was organised in conjunction with the Ministry of Foreign Affairs and International Cooperation, while the South Korea mission was organised in conjunction with the Embassy of Botswana in Japan and Business Botswana.

She added that during both missions BITC will host business seminars and one-on-one meetings for participating companies from Botswana and the respective countries’ local business communities.

“The seminars   will   facilitate   opportunities   for   investment   and   trade   in   both   countries through presentations and panel discussions,” said Moagi.

She further stated that the objectives of the missions are to create awareness of Botswana as a potential leading destination for outward foreign investment and also direct investment from the Republic of South Korea and Angola. 

Further, said Moagi, BITC wants to create an opportunity for   Botswana companies to explore trade and investment opportunities in Angola and South Korea.

“BITC aims to identify trade and investment opportunities for the South Korea and Angolan private sector in Botswana and also to provide a platform for South Korea and Angolan companies to present their capabilities and cultivate possible partnerships with their Botswana Counterparts,” said Moagi.

She further revealed that Angola  imports just  about  everything,  which presents a rare trade and  investment  opportunity for Botswana   businesses   in  various   sectors   such   as   energy,   oil   and   gas,   beef   and   beef products, edible or cooking oils, tinned or canned products, automobile batteries, pharmaceuticals, plastic and paper products, as well as cargo and logistics amongst others. 

 “Last year alone, Botswana exported goods worth about P18.2 million to Angola. We look forward to exploring the South Korean market because it is the source of   today’s excellent   consumer   electronics. The country has also established a niche for itself as a powerhouse in technology ÔÇô with some of its company’s out- competing American and Japanese companies,” she stated. 

Further, she said, South Korea is one of the most connected countries in the world, and is ranked eighth in terms of ease of doing business.  In terms of value   proposition,   South   Korea   is   very   strong   in   the   following   sectors   that   Botswana   could leverage on: Information Communications Technology (ICT), transport, agriculture, automobile and components manufacturing, human resources development, infrastructure   development, energy and renewable energy and resource beneficiation (coal to liquid).


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