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Home Business & Economy

Namibia, Russia strengthen economic ties

by editor
December 8, 2023
in Business & Economy
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Namibia and Russia have reaffirmed commitments to strengthening economic ties as the two countries consolidate already existing bilateral relations.

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Deputy Prime Minister Netumbo Nandi-Ndaitwah of Namibia and Deputy Prime Minister Yury Trutnev of Russia held a meeting as part of the Russia-Namibia Intergovernmental Commission, which featured discussions on trade, investment, and cooperation.

Deputy Prime Minister and Minister of International Relations Nandi-Ndaitwah emphasised the significance of industrialisation as a key driver of Namibia’s development.

“Industrialisation is one of the critical pillars of our development, and we want to strengthen it in our cooperation with the Russian Federation,” she stated.

Acknowledging a recent decline in trade, she expressed confidence in the resurgence of economic activities.

“We acknowledge that there has been a decrease in the importation of wheat from the Russian Federation by the Namibian private sector. We will be able to look into this very seriously,” Nandi-Ndaitwah said.

The Deputy Prime Minister pledged to address concerns about the reduction in wheat imports promptly.

The leaders discussed the outcomes of the recent COP28, where Nandi-Ndaitwah reiterated Namibia’s commitment to the Paris Agreement.

“Not much progress is happening; however, more commitment has been made, and Namibia will continue to implement its commitments elaborated in our NDC based on the Paris Agreement,” she stated.

Addressing peace and security, Nandi-Ndaitwah highlighted Namibia’s commitment to supporting the maintenance of peace and security in the region and globally.

“Peace and security remain a prerequisite for any development, and Namibia will continue to advocate that any conflict should be solved through negotiation,” she emphasised.

Meanwhile, Yury Trutnev, Deputy Prime Minister of the Russian Federation expressed gratitude for Namibia’s commitment to bilateral relations. 

“I would like to assure you that no matter any breaks in regards to our contacts, the Russian Federation still values the friendship, which is the basis of our cooperation,” he stated.

Nandi-Ndaitwah thanked Deputy Prime Minister Trutnev for visiting Namibia and looked forward to the full session of the intergovernmental commission in Russia next year. 

“We remain committed, Your Excellency, to strengthen the existing bilateral relations and cooperation of our two countries to the benefit of the people of our countries,” she remarked.

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