BANGALORE – Indian businesses have shown keen interest in exploring investment opportunities in Namibia in sectors such as agriculture and agro-processing.
The Minister of Trade and Industry Calle Schlettwein told Nampa yesterday morning, immediately after his meeting with the Indian Minister of Agriculture in the Government of Karnataka, Krishna Byre Gowda.
Schlettwein said there is keen interest in India to explore investment opportunities to enable Namibia to pursue its ambitions to add value to its agricultural produce and in the manufacturing sector in general.
He said during the meeting they agreed to bring together businesspeople from both countries through their chambers of commerce and industry, so that they can explore possible investment opportunities in each other’s economies and to drive Namibia’s intention to add value to its raw materials in an accelerated manner.
Relations between India and Namibia predate independence during the liberation struggle. “The country has made big strides in developing its industry and has now become an industrialised nation. We want to leverage that capacity and experience from a fellow developing country to assist us in our Vision 2030 to become an industrialised nation,” said Schlettwein.
He also encouraged Namibian businesses to invest in India.
“We have to move away from only inviting people to come and invest in our country. We must also start looking for opportunities to invest in their countries,” stressed the minister.
Schlettwein is leading a Namibian business delegation to India, and they will amongst others attend the Partnership Summit in Bangalore.
The summit commenced yesterday afternoon under the banner “Emerging Global Value chains: Building Partnerships.” The gathering is expected to be attended by ministers of trade and industry from countries such as the Czech Republic, Fiji, Indonesia, Iraq, Japan, Macedonia, Malaysia, Mauritius, Namibia, Qatar, Singapore, Tanzania, United Arab Emirates, Zambia, Zimbabwe, Cambodia, Canada and Mexico. The summit will deliberate on issues such as how globalisation has motivated companies to restructure their operations internationally through outsourcing and offshoring of activities.
Delegates will also deliberate on the emergence of global value chain challenges, conventional wisdom and the outlook on economic globalisation, and the policies which are developed around it.
The participants will also look at challenges and opportunities facing emerging markets and developing economies, as they seek to integrate into the global production chain, as well as deliberate on how building partnerships will help the integration of companies from developing countries into the global value chain.
– Nampa
By Maggy Thomas