Minister of Industrialisation and Trade, Lucia Iipumbu has called on the newly inaugurated Namibia-Angola Joint Trade Committee (JTC) to place emphasis on the creation of value chains during trade.

Iipumbu who was speaking at the closing of the inaugural session of the Namibia-Angola JTC on Wednesday in Swakopmund, highlighted this importance for the two countries belonging to regional, national and international trade groupings, whose objectives are to enhance trade and development.

“We therefore call upon Angolan companies to consider investing in various sectors in Namibia with specific focus on value addition such as for cosmetics, manufacturing and agriculture with specific focus on agro-processing,” she noted.

Iipumbu together with her Angolan counterpart, Minister of Industry and Commerce Victor Francisco Dos Santos Fernandes committed to inaugurate the JTC during Namibia’s Trade and Investment Mission to Angola earlier this year. This process has been pending since the JTC’s Terms of Reference was signed in 2014.

The JTC was established to deal with matters of mutual interest in the domain of trade and investment especially the promotion of trade facilitation and support to the private sector.

“The committee will among others identify potential sectors and areas of cooperation in trade and investment and develop implementation programmes thereof, and attend to trade facilitation issues necessary to improve the free flow of goods and services,” Iipumbu said.

It will also promote information sharing and dissemination to stakeholders in both countries on the prevailing trade regimes and opportunities available in the areas of trade and investment.

The minister expressed hope that the committee would look at issues brought to its attention by both public and private sector in an objective and transparent manner at all times.

Fernandes placed importance on the JTC as it gives guidance on how the two countries are going to enhance trade moving forward.

“We believe that it is our mandate to strengthen and ensure strong relations between the two countries and the JTC will only be [beneficial] if we take advantage of the frameworks already signed,” he noted.

The minister added that Angola is also currently in the process of becoming part of the African Continental Free Trade Area.

Source: The Namibian Press Agency