NCCI calls for economic integration

The Namibia Chamber of Commerce and Industry (NCCI) says economic integration is vital to ensure African countries do not suffer from decisions taken to harm their economies.

The call was made by NCCI president Bisey Uirab during a recent business summit.

“Economic integration makes sense in and for Africa, amid economic fragmentation and unfavourable sanctions on the global stage. Africa can only cushion its economy if we are united and trading among ourselves,” he said.

Uirab also touched on the benefits of the Africa Continental Free-Trade Agreement (AfCFTA), saying it is opening a window of opportunity for the participating countries.

“The AfCFTA offers us this opportunity to grow internally as a continent, with reduced economic dependence elsewhere.

“[It offers] every member or party to this agreement growth prospects from free trade because of new market opportunities and increased demand,” Uirab said.

“The AfCFTA agreement allows for cumulation of value addition to take place in any of the member countries. As the private sector, we need to take advantage of this arrangement for our products to meet the rules of origin requirements. This opens up opportunities for our countries to build cross-border value chains, especially in the automotive and textile industries.”