New strategy seen boosting AGOA exports
Tuesday, November 08, 2016
The majority of local businesses have always failed to reap the benefits of AGOA, which is a US Trade Act that enhances market access to the US for qualifying sub-Saharan African countries.
According to the deputy permanent secretary in the ministry of investment, trade and industry, Ontlametse Ward despite the market access opportunity for goods and services granted under AGOA, Botswana’s exports remain undiversified. Addressing delegates yesterday at the validation workshop of the draft AGOA national response strategy in Gaborone, she said this impacts negatively on the export sector and growth of the country.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...