The Pharmaceutical Export Promotion Council (Pharmexcil) has shown interest to set up significant industrial relation with the pharma companies in Botswana in a meeting with the top brass delegates from Botswana government.
In the interactive meeting, the council also informed that the pharma industry is looking at investments in Botswana and access to the neighbouring countries in view of Botswana's strategic location. Dr P V Appaji, executive director, Pharmexcil in his speech to the delegation, explained about the achievement of the Indian Pharmaceutical Industry and the role of Pharmaceuticals Export Promotion Council (PHARMEXCIL) in export promotion in the sector.
In reply to the council's enthusiasm to set up relations with the country, Festus Mogae, President of Botswana who was leading the delegation, requested the Indian Pharma Industry to capitalize on the incentives provided by the Government of Botswana and invest in the Country to gain access to the market along with the access to the other neighbouring countries in Southern Africa.
Mmasekgoa Masire - Mwamba, chief executive officer of BEDIA (Botswana Export Development and Investment Authority) informed about the advantages provided by the Government of Botswana for the companies, including provisions of low tax regime with corporate tax at 15 per cent for manufacturing companies and 25 per cent for others, the highest bracket for income tax is only 25 percent, training costs deductible at 200 percent, good infrastructure, stable and trainable workforce, etc. He added that new opportunities have opened through the Africa Growth and Opportunity Act, which allows quota and duty free entry of goods manufactured in Botswana to the US Market and that the ready access to the European Union market under the Cotonou partnership agreement gives Botswana non-reciprocal access to these markets.
Tibone, Hon'ble Minister of Minerals, Energy and Water, Vishnu Hade, Indian High Commissioner to Botswana and Dorcas Kgosietsile, Botswana High Commissioner and other senior government officials were some of the members in the delegation to India.