Namibia and Zambia have signed four cooperation agreements on trade and investment, industrial development cooperation, competition, and standards benchmarking as the two countries strengthen bilateral relations.
“These MoUs are a testament to our continuous efforts to strengthen our bilateral relations as sister countries. We must ensure the effective implementation of these MoUs and provide progress at the next JTIC,” Minister of Industrialisation and Trade Lucia Iipumbu told the Namibia-Zambia Joint Trade and Investment Committee (JTIC) ministerial meeting and business-to-business engagement.
The Minister underlined the importance of implementing the MoUs effectively and ensuring progress in future JTIC meetings.
She expressed Namibia’s commitment to enhancing its trade relations with Zambia, considering it a country of strategic significance for mutual trade benefits.
“The cooperation with our neighbour Zambia is vital. Namibia prioritises trade and investment with her neighbours, and Zambia is one of the countries of strategic importance with the potential to further improve trade benefits,” Iipumbu
Iipumbu noted that the agreements signify the ongoing efforts to strengthen the bilateral ties between Namibia and Zambia.
She also extended an invitation to her Zambian counterpart for the next JTIC meeting, scheduled to take place in Namibia in September next year. “Allow me at this juncture to formally invite my counterpart to the next JTIC, which we envisage to host in Namibia in September 2024,” she said.
Furthermore, the Minister encouraged the Zambian business community to explore various trade and business opportunities in Namibia, including sectors like tourism, mining and energy, agro-processing, manufacturing, oil and gas. “We are, therefore, extending an invitation to the Zambian business community to come to Namibia and explore trade and business opportunities in various fields,” Iipumbu said.
Highlighting the need to diversify their economies, she stressed the importance of identifying and leveraging key priority business, trade, and investment opportunities in various sectors. She further emphasised a focus on collaborative efforts aimed at developing value chains and enhancing technical supply chain exchanges, particularly in manufacturing and value addition.
“We must ensure that we identify and leverage other key priority business, trade, and investment opportunities in various sectors while we pay special focus on collaborative efforts targeting specifically value chain development as we try to diversify our economies,” stated Iipumbu.
The Minister thanked Zambia for hosting the meeting and expressed hope that continued engagements in trade and business would yield positive outcomes. Iipumbu highlighted the presentations by both the Zambia Development Agency and Namibia Investment Promotion and Development Board, which outlined investment opportunities and sectors of interest for both Namibian and Zambian businesses and investors.
“Namibia views trade as a catalyst for economic development, underlining the significance of such collaborations. The presentations by both Zambia Development Agency and Namibia Investment Promotion and Development Agency have clearly outlined and highlighted key areas on investment opportunities and specific sectors,” Minister Iipumbu said.
The Namibia-Zambia Joint Trade and Investment Committee Ministerial Meeting is aimed at strengthening economic ties between the two neighbouring nations.
