The Namibian Ports Authority (Namport) and Portugal’s Administração dos Portos de Sines e do Algarve, SA (APS) have signed a Memorandum of Understanding (MoU) to establish sustainable, green, and digital logistics corridors aimed at enhancing trade and investment between the two nations.
APS manages the ports of Sines, Faro, and Portimão in Portugal.
The agreement seeks to capitalize on the strengths of both ports, particularly in the energy and transport sectors, aligning with the European Commission’s Global Gateway initiative.
The MoU underscores the historical and economic ties between Namibia and Portugal, with a focus on fostering connectivity and investment.
The Port of Sines, due to its natural attributes and geostrategic location, is a key European logistics hub under this initiative.
Meanwhile, Namibia, with its vast renewable energy resources and critical raw materials, aims to position itself as a leader in green hydrogen production.
The ports of Walvis Bay and Lüderitz are expected to play a pivotal role in supporting Namibia’s green energy vision by facilitating exports and boosting regional trade flows.
The partnership is expected to further aid the development of an Atlantic Hub and a logistics corridor to handle critical raw materials, synthetic fuels, green hydrogen, and associated carriers.
The agreement is valid for five years, during which both parties will explore synergies in port development and logistics enhancements.
The collaboration also comes as Namibia and Portugal work toward finalizing negotiations on various bilateral agreements, including a Double Taxation Agreement (DTA) to ease international trade complexities.
Namibia currently has DTAs with countries such as Botswana, France, Germany, India, Malaysia, Mauritius, Romania, the Russian Federation, South Africa, Sweden, and the United Kingdom.
