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Oliver Kazunga, Senior Business Reporter
ZIMBABWE and Namibia are ready to assist each other in developing solid economies through an exchange of trade and investment opportunities existing between the two countries.
This emerged during the Zim-Namibia trade and investment business meeting held at the Zimbabwe International Trade Fair on Friday evening.
The meeting, which was organised by the Ministry of Industry and Commerce, was attended by the local business community, Vice President Phelekezela Mphoko and the Namibian President Dr Hage Geingob who was in the country to officially open the 58th edition of the ZITF that ended on Saturday.
In his address, VP Mphoko said the meeting had been organised at an opportune time when the country was implementing Zim-Asset.
“The meeting has been organised at an appropriate time when as you might be aware that the Government is in the process of implementing the agenda for sustainable socio-economic transformation . . . Zimbabwe is ready for investment and we are doing all we can to see that investment is coming into the country,” he said.
This year’s trade fair ran under the theme, “Harnessing Linkages for Industrial Development”.
VP Mphoko said the two Sadc countries should foster bilateral trade and investment opportunities existing as a result of the cordial relations they enjoy.
Speaking at the same occasion, Dr Geingob said his country has vast investment opportunities in areas such as agriculture, housing development, tourism and renewable energy and was ready to do joint venture projects with investors from Zimbabwe.
“With all the investment opportunities that we have in Namibia, we are inviting foreign investors,” he said.
Dr Geingob noted that African countries should promote economic emancipation by allowing Public- Private Partnerships (PPPs).
Earlier in his address, Industry and Commerce Minister Dr Mike Bimha said while trade between Zimbabwe and Namibia has over the years been on a positive growth trajectory, there were still vast opportunities for growth.
“Namibia’s exports to Zimbabwe are $18,2 million worth of goods while Zimbabwe exports were $7,3 million in 2016. Namibia exports to Zimbabwe are dominated by canned fruits, beef, fish . . . while Zimbabwe exports agricultural equipment, building material, wooden doors, sugar, pork, smoked chicken and leather products, among others.
“There is high demand for Zimbabwean products in Namibia, both countries stand to benefit from the mutual relationship,” he said.
Minister Bimha said strong economic ties between the two countries had been demonstrated over the years by the strong participation of the Namibia and Zimbabwean companies at each other’s trade fairs.
He said Zimbabwe has also established a dry port at Walvis Bay, which was aimed at facilitating Zimbabwe exports and imports.
The minister said the Government was committed to driving Zimbabwe’s industrialisation agenda through value chain and clustering of Small to Medium Enterprises (SMEs).
“I hope Zimbabwe and Namibia SMEs will collaborate in the industrial agenda and learn from each other’s experiences,” he said.
— @okazunga
Online Reporter