NAMIBIAN PRESIDENT HIGHLIGHTS IMPORTANCE OF TRADE FAIRS TO SMES, LOCAL ENTREPREUNERS

ONGWEDIVA, NAMIBIA, Namibian President Hage Geingob has highlighted the importance of trade fairs as important marketing opportunities for local entrepreneurs, especially small and medium enterprises (SMEs).

Officiating at the 2017 Ongwediva Annual Trade Fair (OATF) in this town in northern Oshana Region (Province) on Monday, Geingob said such events were an opportunity to network and facilitate trade through business linkages between domestic and international entrepreneurs.

"The beneficial effects of trade on overall economic development, has been well documented," he said, adding that often the focus was on international trade within regional economic blocs but stressed that trade in goods and services within the national boundaries of a country were equally important and should be encouraged.

Geingob used the occasion to dismiss accusations that Government is the cause of Namibia's current economic downturn.

"The economic downturn was caused primarily by external factors, particularly subdued commodity prices and the decline in the South African Customs Union (SACU) receipts," he explained.

Insinuations that Government is to blame for the economic downturn are disappointing and not true, and can be attributed to domestic politics, he said, adding that deep budgetary cuts and reform measures were initiated because the government valued Namibia's macro-economic stability.

"That is why Namibia has never gone to the International Monitory Fund (IMF) for an economic bailout package or entertained any internationally-imposed structural reform programmes," said the Namibian leader.

Source: NAM NEWS NETWORK