##e from increased productivity in a global economic environment. it is only this path that will sustain our country ’ s long - run broad - based economic and social prosperity. i had the pleasure of touring the exhibits earlier today, and was very impressed by the wide range of products on display. i am also encouraged that, despite the current difficult economic conditions, organisers are optimistic that transactions will surpass last year ’ s fifty million pula mark by an estimated ten million pula. this suggests a rebound of consumer confidence in the region. of equal importance, the organisers have appropriately arranged an investment forum, buyer - seller meetings, and several workshops. these events will contribute significantly to the achievement of the objectives of global expo botswana 2009. i would like to take this opportunity to encourage exhibitors and visitors to patronise and participate in the events. i also wish to encourage members of the public to patronise the exhibition especially on saturday when, i am reliably informed, there will be cultural performances, various delicious cuisines and other complementary activities that will, no doubt, make global expo botswana 2009 a memorable experience. director of ceremonies, distinguished ladies and gentlemen, i wish to conclude by wishing all exhibitors and visitors fruitful business negotiations in the next four days of the exposition. i also commend the organisers for a sterling job in putting together this event ; you make the city of gaborone and the country proud. the acting president, honourable ministers, distinguished ladies and gentlemen, it is now my honour and privilege to declare global expo botswana 2009 officially open. i thank you for your attention.

decline by an overall 3. 4 percent this year. fortunately, the emerging and developing economies are expected to register a growth rate of 1. 7 percent in 2009 ; this is, nonetheless, a much slower rate of expansion compared to the 6 percent achieved the previous year. the global recession has severely affected international trade. according to the international monetary fund, the volume of trade will decline by a steep 11. 9 percent this year. the reason for this is simple. rapid economic growth in many countries, especially during the last two decades since the end of the cold war, depended on export performance. when the importing countries began to experience an economic downturn, their demand for exports declined at a faster rate than the slowdown on growth. that is why there is now a global consensus that at a time of economic recession, all efforts should be made to bencourage, and not restrict, trade so that countries can bail each other out. global expo botswana answers this call. the good news is that, while it has been severe, the recession has been less deep and lasted a shorter period than many had initially feared. this fortunate outcome is due to the unprecedented coordination of fiscal and monetary policies that were put in place by all the major economies. it is now clear that these efforts have begun to bear fruit, to the extent that a 3. 1 percent global economic expansion is forecast for next year. such is the optimism for global recovery that policy makers are now discussing how best to wind - down the stimulus packages, as the international economy progressively returns to more normal performance. in fact, countries that were moderately in recession – australia and norway – have begun to tighten monetary policy. france and germany have realised positive economic growth for almost two successive quarters. similarly, the world ’ s largest economy, the united states of america, grew at an estimated annualised 3. 5 percent in the third quarter of 2009, a significantly faster rate than expected, and it was the first economic expansion in two years. thanks to china for continuing on its robust economic growth path. all these economic expansion statistics are encouraging, even for the domestic economy, as luxury sectors such as diamond mining and tourism should derive benefit. unfortunately, the united kingdom continues to experience constraints to economic recovery, but it is expected to be out of the woods in due course. with respect to developments in the domestic economy, you are aware that botswana did not escape the effects of the global recession. however, the on - going global economic recovery