Namibia and Russia are seeking to strengthen economic cooperation as government officials and business leaders attended the Namibia-Russia Business Forum on Friday.
The forum was hosted by the Ministry of International Relations and Trade in partnership with the Namibia Investment Promotion and Development Board.
The event aimed to strengthen economic cooperation and create new opportunities for trade and investment between Namibia and the Russian Federation. Minister of International Relations and Trade Selma Ashipala-Musavyi said Namibia and Russia have maintained strong diplomatic relations for many years.
“For decades, our two nations have enjoyed strong diplomatic relations founded on solidarity, mutual respect and shared aspirations for development,” she said. She added that while political relations between the two countries remain strong, trade and economic cooperation have remained limited.
Our task today is to build on that foundation and translate political goodwill into practical economic partnerships, investments and industrial cooperation,” she said.
The forum includes targeted Business-to-Business (B2B) and Business-to-Government (B2G) meetings where Namibian and Russian companies discussed investment opportunities and possible partnerships. Discussions focused on sectors such as agriculture, mining, manufacturing, logistics, education and information technology.
According to Ashipala-Musavyi, Namibia exported goods worth about US$13 million to Russia in 2024.
These exports mainly included fisheries products valued at US$3.68 million, as well as horticultural products such as grapes and dates valued at US$1.46 million.
During the same period, Namibia imported goods worth about US$39.5 million from Russia. These included fertilisers and wheat used in agricultural production. The minister said the trade gap presents an opportunity for Namibia to expand exports and strengthen cooperation with Russia. She also highlighted Namibia’s position as a gateway to regional markets through the port of Walvis Bay and transport corridors linking Southern Africa to international markets. Russian Deputy Prime Minister Yuri Trutnev said the two countries share a long-standing friendship and should continue strengthening cooperation.
He said Russia is interested in expanding cooperation with Namibia in sectors such as energy, mining, agriculture, technology and finance.
Trutnev also noted that education cooperation continues to grow, with about 220 Namibian students currently studying at universities in Russia.