NAMIBIA WANTS TO BOOST TRADE WITH PORTUGAL

Namibia's Deputy Minister of International Relations and Co-operation, Maureen Hinda, says there is a need to strengthen the current level of trade between Namibia and Portugal.

She said this during a meeting with Portugal's Secretary of State for Foreign Affairs and Co-operation, Teresa Ribeiro, here Monday. Ribeiro and here delegation are in Namibia to explore trade opportunities between the two countries.

In 2015, the total value of Namibia's imports from Portugal stood at about 94 million Namibian dollars (one US dollar = about 14.38 NAD) compared with about 326 million NAD in exports from Namibia to Portugal. Namibia exports fish to Portugal and imports mechanical and electrical equipment from there.

"We need to deepen our trade and economic co-operation in order to ensure balance in benefit to the people of our countries," said Hinda.

She also said that through multilateral relations, Portugal could assist Namibia in the reduction of poverty, income disparities and youth unemployment.

Rebeiro noted that the current trade relations were clearly in favour of Namibia and there was a need to create a balance of trade between the two countries. "We have few companies here, however, and we need to improve our economic relations for the benefit of two countries," she said.

Ribeiro said there was also a need to strengthen diplomatic relations between Namibia and Portugal by establishing a Namibian embassy in the European country. Portugal has an embassy in Namibia represented by Ambassador Isabel Brilhante Pedrosa.

Ribeiro said the main goal of the five-day visit to Namibia is to improve on the economic, political and trade relations between the two countries.

Source: NAM NEWS NETWORK.