The business communities from Namibia and South Africa held their first-ever business forum with the aim of deepening their economic ties.
The Minister of Industrialization and Trade, Lucia Iipumbu, is concerned about the unequal trade between the two countries, with South Africa dominating the partnership.
South Africa remains one of Namibia’s main trading partners, with exports standing at 27%. On average, trade relations between the two countries reflect a trade balance of N$30 billion in favour of South Africa.
Business executives therefore met in the capital to explore opportunities to increase trade and investment flows between the two countries. The business forum also provided business people with a platform to exchange concrete ideas on new opportunities that could be explored.
The South African Minister of Trade, Industry, and Competition, Ebrahim Patel, highlighted that it is time for African countries to stop exporting their raw materials without value addition.
Patel therefore says the business forum was a good start for both countries to be thinking of ways on how they can make this dream a reality to grow the African economy.
The two countries hope to deliberate on key issues of business to ensure sustainable solutions not only for business but also for human well-being, ensuring that they sustain a healthy planet for future generations.
Leave a Reply