Namibia strengthens trade relations with Brazil
Namibia welcomed a delegation from Brazil on Monday to hold talks aimed at fostering stronger ties and exploring mutually beneficial opportunities.
The meeting marked a significant step towards enhancing bilateral trade, investment and cooperation between the two nations.
The ten-member Brazilian delegation engaged in discussions with industrialisation and trade minister Lucia Iipumbu to explore various investment and trade prospects in Namibia.
Iipumbu highlighted Namibia's stable political environment, vigorous legal framework and strategic geographical location as factors contributing to its attractiveness for investment.
“With abundant and diverse natural resources spanning key sectors such as minerals, agriculture, fisheries, and renewable energy, as well as prospective emerging sectors like oil and gas, Namibia stands confident to influence value addition to its resources for mutual gain.”
Equal opportunities
Highlighting the potential of the Southern Common Market, or Mercosur partnership, Iipumbu emphasised the opportunities it presents for Namibia to access the vast South American markets, particularly Brazil.
Brazil, with its dynamic economy, rich cultural heritage and expanding middle class, offers a selection of prospects for Namibian businesses to explore and expand their presence.
Furthermore, through Mercosur, Namibia serves as a gateway for Brazilian enterprises to tap into the Southern African Development Community (SADC) market and the broader African market facilitated by the African Continental Free Trade Area (AfCFTA).
Key developments
The trade ministry underlined its commitment to creating a favourable policy and legislative environment for both local and international investors during the meeting.
Key legislative reforms in progress include the Special Economic Zone (SEZ) law, aimed at providing economic and non-economic incentives to attract investments.
Additionally, the review of the investment promotion law, expected to be tabled this year, aims to facilitate and promote both foreign and Namibian investments to drive sustainable economic development.
The meeting marked a significant step towards enhancing bilateral trade, investment and cooperation between the two nations.
The ten-member Brazilian delegation engaged in discussions with industrialisation and trade minister Lucia Iipumbu to explore various investment and trade prospects in Namibia.
Iipumbu highlighted Namibia's stable political environment, vigorous legal framework and strategic geographical location as factors contributing to its attractiveness for investment.
“With abundant and diverse natural resources spanning key sectors such as minerals, agriculture, fisheries, and renewable energy, as well as prospective emerging sectors like oil and gas, Namibia stands confident to influence value addition to its resources for mutual gain.”
Equal opportunities
Highlighting the potential of the Southern Common Market, or Mercosur partnership, Iipumbu emphasised the opportunities it presents for Namibia to access the vast South American markets, particularly Brazil.
Brazil, with its dynamic economy, rich cultural heritage and expanding middle class, offers a selection of prospects for Namibian businesses to explore and expand their presence.
Furthermore, through Mercosur, Namibia serves as a gateway for Brazilian enterprises to tap into the Southern African Development Community (SADC) market and the broader African market facilitated by the African Continental Free Trade Area (AfCFTA).
Key developments
The trade ministry underlined its commitment to creating a favourable policy and legislative environment for both local and international investors during the meeting.
Key legislative reforms in progress include the Special Economic Zone (SEZ) law, aimed at providing economic and non-economic incentives to attract investments.
Additionally, the review of the investment promotion law, expected to be tabled this year, aims to facilitate and promote both foreign and Namibian investments to drive sustainable economic development.
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