EU-Namibia partnership helps boost exports
EPA mutually beneficial
The EU ambassador said their trade policy aims to secure prosperity not only for EU member states but for Namibia too.
The European Union’s (EU) bilateral pact with Namibia has boosted the latter’s export earnings by more than 50% since 2011, the EU ambassador to Namibia, Sinikka Antila, announced this week.
Antila said this during the launch of the N$107 million Economic Partnership Agreement (EPA), which is set to commence on Monday.
According to Antila, the agreement will further nurture the flourishing partnership between the two governments.
"This event will give a platform for business leaders to discuss key trade issues and solutions. The EPA was signed in 2016 and provides duty and quota-free access to the European market."
Currently, all goods and products, except arms and ammunition that originate from Namibia, enjoy these privileges.
"This is great news for businesses. Furthermore, it provides flexible rules which exporters can easily access for input needs for their final product," she said.
According to the EU's financial reports, Namibia is gradually removing customs duties on 86% of the products imported from the EU, with a view to the removal of duties on 74% of these products and a partial reduction of 12% by 2027.
The remaining 14% of these products, both agricultural and industrial, are excluded from the EPA.
Pool of opportunities
The EU ambassador said their trade policy aims to secure prosperity not only for EU member states but for Namibia too.
"EU is supporting Namibia to reform the business investment environment and reaping the benefits of this agreement through this dedicated project to the value of N$107 million.
"The project will allow for a bigger attraction of EU investors for MSMEs and SMEs in Namibia," she said.
The EPA Trade Forum will be easily accessible to both formal and informal sectors on social platforms, and the public is encouraged to join the discussions, she said.
Antila said this during the launch of the N$107 million Economic Partnership Agreement (EPA), which is set to commence on Monday.
According to Antila, the agreement will further nurture the flourishing partnership between the two governments.
"This event will give a platform for business leaders to discuss key trade issues and solutions. The EPA was signed in 2016 and provides duty and quota-free access to the European market."
Currently, all goods and products, except arms and ammunition that originate from Namibia, enjoy these privileges.
"This is great news for businesses. Furthermore, it provides flexible rules which exporters can easily access for input needs for their final product," she said.
According to the EU's financial reports, Namibia is gradually removing customs duties on 86% of the products imported from the EU, with a view to the removal of duties on 74% of these products and a partial reduction of 12% by 2027.
The remaining 14% of these products, both agricultural and industrial, are excluded from the EPA.
Pool of opportunities
The EU ambassador said their trade policy aims to secure prosperity not only for EU member states but for Namibia too.
"EU is supporting Namibia to reform the business investment environment and reaping the benefits of this agreement through this dedicated project to the value of N$107 million.
"The project will allow for a bigger attraction of EU investors for MSMEs and SMEs in Namibia," she said.
The EPA Trade Forum will be easily accessible to both formal and informal sectors on social platforms, and the public is encouraged to join the discussions, she said.
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