In a significant development that underscores the deepening economic ties between Botswana and Zambia, the Botswana Investment and Trade Centre (BITC) and the Zambia Development Agency (ZDA) have signed a landmark Memorandum of Understanding (MoU). This pivotal agreement was formalized during His Excellency Dr. Mokgweetsi E.K Masisi, President of the Republic of Botswana's working visit to Livingstone, Zambia, upon the gracious invitation of His Excellency Mr. Hakainde Hichilema, President of Zambia.
The MoU aims to bolster trade and investment promotion activities between Botswana and Zambia, marking a significant step towards sustainable economic growth and the creation of employment opportunities in both nations. It outlines a strategic framework to enhance commercial relations through the establishment of mechanisms and institutional arrangements designed to foster interaction and exchange among private sector entities, investment, trade, and commercial organizations in both countries.
A key objective of this agreement is to amplify efforts to promote bilateral trade and investment, with the goal of expanding trade volumes and addressing the trade imbalance between the two countries. The MoU entrusts both parties with the critical task of identifying and developing trade and investment opportunities for mutual benefit.
The ceremony saw Mr. Keletsositse Olebile, CEO of BITC, and Mr. Albert Halwampa, Director General of ZDA, signing the MoU, marking a new chapter in the economic partnership between Botswana and Zambia. This collaboration is a testament to the commitment of both nations to work together towards common goals of prosperity and development.