WINDHOEK, Aug.20 — Namibia and Brazil are seeking to deepen their cooperation in critical sectors including agribusiness, mining, renewable energy, and manufacturing, an official said Monday. Speaking during the Brazil Trade and Investment Mission held in Windhoek, Namibia‘s capital, Namibian Minister of Industrialization and Trade Lucia Iipumbu emphasized the opportunities for both nations to enhance their economic growth and competitiveness through joint ventures. “There is an urgent need to identify key opportunities for collaboration, particularly in value chain development and adding value to raw materials,” Iipumbu said. Trade between the two countries has seen a decline in recent years. Namibia‘s exports to Brazil fell from 616,000 U.S. dollars in 2017 to 336,000 dollars in 2022.
Conversely, Brazil’s exports to Namibia, which include poultry meat and raw sugar, decreased slightly from 36.2 million dollars in 2017 to 36 million dollars in 2022. Iipumbu called for increased cooperation in trade in services, noting the current lack of such trade between Namibia and Brazil. She expressed optimism that Brazil’s advanced economy could help Namibia leverage technology and innovation to meet its development objectives. To attract both local and international investors, Namibia is revising its Special Economic Zone Bill and finalizing the Investment Promotion and Facilitation Bill to improve the investment process, according to Iipumbu. “Through strategic partnerships, Namibian companies can tap into Brazil’s expertise, technology, and market networks to enhance their competitiveness,” she said. The event, themed “Brazil-Namibia: Partners Across the Ocean Exploring Trade and Investment Opportunities,” brought together government officials and business leaders from both countries to explore new trade and investment prospects.
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