Botswana open and outward looking – banker

SHARE   |   Wednesday, 17 May 2017   |   By Kabelo Adamson
Botswana open and outward looking – banker

Botswana remains a largely open economy with an outward looking trade policy supported by several factors, including free capital mobility. This is according to Bank of Botswana (BoB) Director of Research and Financial Stability, Tshokologo Kganetsano during the annual economic briefing by the central bank. Kganetsano told reporters on Wednesday that the country’s trade policy which rests on outward looking approach supports Botswana’s openness when it comes to trading. He said trade agreements – bilateral, regional and international – all support the country’s openness in trade together with favourable macroeconomic policy environment. Trade openness can be described as a measure of economic policies that either curtails or promote trade between countries and with an outward looking strategy which is said to have worked well for developed states like Singapore and Taiwan, Kganetsano said it is therefore important to note that the local economy is open when it comes to trading. Some of the benefits of trade openness are that it drives economic development and growth and well as enhancing domestic productivity and competitiveness while improving social welfare. Botswana’s trade openness is said to have increased from 94.9 percent in 2010 to 105.9 9 in 2015 and is ranked ahead of countries such as South Africa and Kenya in the region.



Travel Lodge Room 52
Patriot placeholder