Naanda urges Namibia and SA to promote economy through AfCFTA

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Ministry of International Relations and Cooperation (MIRCO) Executive Director, Penda Naanda has called on Namibia and South Africa to promote economic growth through the African Continental Free Trade Area (AfCFTA), saying South Africa has the highest number of companies doing business in Namibia.

Opening the 3rd three-day session of the Namibia and South Africa Bi-National Commission (BNC) here on Tuesday, Naanda said Namibia has signed over 90 bilateral agreements and memoranda of understanding with South Africa covering a wide range of sectors aimed at promoting economic growth and sustainable development for both countries.

“AfCFTA is an instrument we can use to intensify trade and investment collaboration between our two countries. There is a vital need to turn the vast existing potential of both material and human resources into bankable and practical actions that will positively change the living conditions of our fraternal people,” he said.

At the same event, South Africa’s Acting Deputy Director-General of the Africa Branch in the Department of International Relations and Cooperation, Tselane Mokuena said Namibia is currently in the top five of African countries trading with South Africa, therefore it is important for the two countries to merge efforts to improve trading and investment partnership for the betterment of the citizens.

“The two countries have mutual challenges that need to be resolved within the three days to ensure as neighbours we are able to work with one another by addressing those challenges and to fast track the realisation of the AfCFTA,” she said.

The BNC was transformed from the Heads of State Economic Forum in 2012 to provide impetus to further enhance bilateral cooperation between the two countries in a wide range of areas including diplomacy, legal, defence and security, and social and economic issues.

Source: The Namibian Press Agency