Venezuela, Namibia strengthen trade and economic cooperation

The Bolivarian Republic of Venezuela and the Republic of Namibia signed a Memorandum of Understanding (MoU) on Trade and Economic Cooperation on 30 November 2023, as a glowing testimony to fortify bilateral ties between the two countries. Entering into this MoU with Venezuela will benefit Namibia through economic intelligence and information exchange, the development and exploitation of trade, industrial cooperation, and investment opportunities. Venezuela and Namibia established diplomatic relations on 22 May 1990. With greater reason, such ties were further strengthened by the assuming of the presidency by Commander Hugo Chave, resulting in the signing of 22 cooperation instruments in politics, education, culture, library services, communication, mining, oil, agriculture, housing, women and gender equality, electoral processes, work and social development. Namibian products with export potential to Venezuela include fresh grapes, dates, fish, beef, and salt, minerals (marbles, uranium and diamonds). Venezuelan products with export potential to Namibia include petroleum, coffee, heavy pure woven cotton, sugar, wheat and rice. Pictured is Lucia Iipumbu, Minister of Industrialisation and Trade and Johann Álvarez Márquez, Vice Minister for Foreign Trade and Investment Promotion of Venezuela .Photo Contributed