Namibia and EU holds political dialogue on economic recovery

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Minister of International Relations and Cooperation, Netumbo Nandi-Ndaitwah said although the European Union (EU) member states remain amongst the major trading partners of Namibia, there is a need to explore more ways to further develop value chains in Namibia.

While speaking at the Namibia-EU political dialogue here Wednesday, Nandi-Ndaitwah said Namibia trades in the areas of mining, fisheries, agriculture, and machinery, with the EU, saying that the value addition of goods in Namibia will create sustainable jobs for a better future for all Namibians, especially women and youth

The political dialogue was aimed at exploring various trading areas, to boost economic recovery post-Covid-19.

Nandi-Ndaitwah also said there is now an added advantage to manufacturing and producing goods in Namibia through the African Continental Free-Trade Area (AfCFTA) which is able to reach a market of about 1.3 billion.

“European companies can expand their businesses to reach new markets in Africa, tariff-free. Namibia appreciates the support given by the EU towards the implementation of the Economic Partnership Agreement (EPA) between certain Southern African Development Community member states and the EU,” she noted.

Namibia, she further said, welcomes the interest to strengthen cooperation in the area of green or renewable hydrogen and invites European companies to venture into the development of a fully functioning sector including production, distribution, storage, and local-end use of hydrogen, with a view of establishing a hub in the country for the benefit of domestic, regional and international markets.

“Energy security is key for sustainable development, and there are huge potentials that lie ahead, as about 60 per cent of Africa is still without access to electricity. Investment in green hydrogen is an investment in clean energy that will further reduce carbon emissions,” she indicated.

At the same event, EU Ambassador to Namibia, Sinikka Antila said the EU economic growth plan is charted in the form of the European Green Deal which presents significant opportunities for EU and Africa partnership, including trading African partners.

“I believe that the new areas of cooperation will open new avenues to diversify the EU-Namibia cooperation. In 2020 the EU was the largest trade partner for Africa and in Namibia, we need to boost trade and more partnerships between our businesses in order to get new opportunities for growth and creation of jobs,” she noted.

Source: The Namibian Press Agency