Namibia and Zambia this week signed four agreements in the fields of industrial development cooperation as well as competition and standards in a bid to boost trade and cooperation between the two countries. This is part of a continuous effort to strengthen bilateral relations as sister countries.
Trade and industrialisation minister Lucia Iipumbu emphasised the recent agreements must be implemented for progress to be provided at the next Namibia-Zambia Joint Trade and Investment Committee (JTIC) ministerial meeting.
“Namibia recognises trade as an economic catalyst for most of the developmental activities in the country. In this regard, Namibia prioritised trade and investment with her neighbours and Zambia is one of the countries of strategic importance with the potential to further improve trade benefits,” said Iipumbu on Tuesday in Lusaka.
Iipumbu noted the two countries must identify and leverage key priority business, trade and investment opportunities in various sectors. This, she said, should be done while focusing on collaborative efforts specifically targeting value chain development in a bid to diversify the two economies.
“We must also consider enhancing supply chain exchanges at a technical level to focus on manufacturing and value addition,” Iipumbu added.
Then, while formally inviting her counterpart to the next JTIC, expected to be hosted in Namibia in September 2024, Iipumbu also extended an invitation for the Zambian business community to explore Namibian trade and business opportunities in various fields such as tourism, mining and energy, agro-processing, manufacturing as well as oil and gas.
“Allow me to extend our utmost appreciation to our two respective business fraternities for engaging as we facilitate and commit to forging mutual partnerships to ease our trade and investment endeavours. I am reliably informed that the engagements were fruitful and I implore on you to take these conversations beyond this meeting,” said Iipumbu.
The trade minister further asked the business community to take note that both Namibia and Zambia have negotiated, signed and ratified the agreement establishing the African Continental Free Trade Area.
Said Iipumbu: “This will indeed ease trade between our two countries as we will eliminate tariffs. This must therefore remain one of the key avenues of trade for our two sister countries. Our business community present here must take note that our trade statistics between our two countries leave soo much to be desired and there is still much that we can do to diversify our markets and bring more products in the baskets for trading with each other”.
She further emphasised the two respective ministries will continue to actively act as interfaces between their private sectors and investors.
“Allow me, therefore, at this juncture to invite both Namibian and Zambian companies to consider exploring joint venture options for setting up businesses in the two countries, as this will spearhead and revive business activities,” said Iipumbu. -ebrandt@nepc.co.na