NE BUSINESS BUREAU
CHENNAI, AUG 4
To boost trade between Namibia and South India, Gabriel P Sinimbo, High Commissioner of Republic of Namibia on Tuesday inaugurated Namibia Trade Commission Office at Ashok Nagar in Chennai. The office has been set up by The India Africa Trade Council (IATC) in collaboration with the India Namibia Trade Forum (INTF).
A 50-member delegation from India, including 30 from Tamil Nadu, will visit Namibia to explore business and trade opportunities.
Talking about business opportunities, Gabriel P Sinimbo, High Commissioner of the Republic of Namibia, said, “Business opportunities in Namibia exist in the areas of agro-processing and green schemes, pharmaceuticals, food processing, solar energy, information technology, gems and jewellery, tertiary education, tourism and the manufacturing sector.”
“One of the most viable and sustainable ways to bring about a win-win situation between India and Namibia is through increased investments from India and by entering into joint venture partnerships between Namibian and Indian entrepreneurs,” he said.
The current bilateral trade between India and Namibia is just over $100 million, according to the statistical information from the Ministry of Commerce and Industry, Government of India.
“Our diamonds and semi-precious stones are exported through London to India and we want to change this so that these commodities could be directly exported to India,” the High Commissioner said.
Welcoming Indian firms to invest in Namibia, he said, “The African Continental Free Trade Area Agreement came into effect on January 1, 2021. The trade agreement will allow goods and services to move freely among the 55 member states of the African Union (AU), which will boost intra-African trade and create a market-size of 1.3 billion consumers and a combined GDP of more than $3.4 trillion. With this in place and other mentioned regional free trade agreements, Namibia will have access to a bigger African continental market.”
He said Indian companies that have invested in Namibia include Vedanta Resources and the Indian GPT Group of companies in a joint venture with Transnamib for the production of concrete sleepers etc.
“Through the Federation we will continue to intensify and deepen our engagement with the African countries which will be sustained and regular. Our development partnerships will be guided by African region’s priorities and we will build as much local capacity and create as many local opportunities as possible. We will bring the South Indian market closer and make it easier and more attractive to trade,” said Dr Asif Iqbal, president, the Indian Economic Trade Organization (IETO).
“My goal is to build stronger bilateral relations and reach new heights between Indian companies and Namibia which is a huge market. We are initiating a much robust connectivity with Namibia and will be taking a 50 member business delegation to Namibia with the idea to further enhance linkage between the two regions and build trust between businessmen,” said Dr P Radhakrishnan Perumal, Namibia Trade Commissioner.
Trade Attache of Namibia Oscar Sikanda, and other important government officers, industrialists and key personalities were among those present at the inauguration ceremony.
Tamil Nadu Handlooms and Textiles Minister R Gandhi couldn’t participate as Chief Guest, as he was preoccupied with some other important work, it was informed at the event.
