Sunday, July 12, 2009

Memorandum of Understanding signed during President Khama’s visit to Singapore.

source: Republic of Botswana (11/7/09) TAUTONA TIMES no 18 of 2009
The Weekly Electronic Press Circular of the Office of the President
Democracy, Development, Dignity and Discipline

C3) 24/6/09: Memorandum of Understanding signed during President Khama’s visit to Singapore.

Botswana Export Development and Investment Authority (BEDIA) and Singapore Business Federation (SBF) signed a Memorandum of Understanding (MoU) on the 23rd June 2009. The Memorandum of Understanding is intended to facilitate trade and investment between the two countries.

BEDIA CEO, Mrs. Dorcas Makgatho-Malesu and her SBF counterpart, Mr. Teng Dar signed the MOU at a ceremony that was graced by H.E President Lieutenant General Seretse Khama Ian Khama. The chairperson of SBF, Mr. Tony Chew, said at the signing ceremony that trade between Botswana and Singapore increased from US$14 million in 2006 to US$27 million in 2008 placing Botswana as Singapore's 150 trading partner in 2008. He urged Singapore companies to tap into Botswana's business links and opportunities such as access to economic blocs in Southern Africa such as SADC and SACU.

He said that the MoU will provide a platform for collaboration between the two countries, particularly in the fields of tourism, health care, education and financial services, sectors that Singapore is traditionally strong at. Mr. Chew further said that Singapore through SBF will be setting up an African Business Platform aimed at developing business links between business communities in Singapore and Southern Africa. For her part, Mrs Makgatho-Malesu assured Singapore investors of liberal tax regime of 15 and 25 per cent tax to corporate and personal respectively. Mrs Makgato-Malesu said Botswana provides conducive investment environment, with the country being the most transparent, least corrupt in Africa as stated by Transparency International.

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