Africa-Press – Namibia. THE Minister of Industrialization and Trade, Lucia Iipumbu, and Japan’s Minister of Economy, Trade and Industry, Yasutoshi Nishimura, recently signed an agreement aimed at enhancing trade and collaboration between the two countries.
According to Iipumbu, Namibia currently exports approximately N$90 million worth of goods and services to Japan, but imports around N$1.4 billion worth of goods and services from Japan. She explained that the agreement signed by her and Nishimura intends to address this imbalance as the two countries have agreed to identify sectors where they can enhance trade and collaboration.
“We have engaged in various discussions that will culminate in future cooperation. We have agreed to work on a trade agreement and investment agreement and also to arrange inbound and outbound trade missions for us to strengthen the economic ties between our two countries. We have engaged in discussions to look at sectors such as economy and energy. We looked at the sector of healthcare. We looked at the sector of industrialisation and, of course, production of machineries, automotive and so many others,” Iipumbu said.
The signing of the agreement follows a recent meeting between the two ministers in Windhoek to discuss bilateral economic relations. During this meeting, Iipumbu revealed, both ministers decided to explore potential areas for collaboration between Japan’s Ministry of Economy, Trade and Industry, Japan’s external trade organization, JETRO, and the relevant ministries and organizations in Namibia across various sectors.
Iipumbu disclosed that this means the two countries intend to support each other’s trade and investment efforts, foster collaboration between the two countries’ business sectors, promote human resource development to contribute to Namibia’s industrialization, and enhance the business environment in both countries.
“Namibia expressed appreciation for the interest shown by Japanese companies in exploring opportunities in Namibia, particularly in the field of renewable energy, including hydrogen, and healthcare sectors. Both ministers also welcomed efforts to strengthen and promote bilateral economic and business activities through the exchange of relevant information and other related cooperative initiatives,” Iipumbu added.
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