EU, Namibia strengthen trade ties

The European Union (EU) and Namibia are set to deepen their trade and investment relations, as a new independent study commissioned by the EU Delegation in Namibia reveals encouraging developments in their partnership.The findings were presented at a stakeholder workshop held in Windhoek recently.The study, conducted by economist Robin Sherbourne, focuses on Namibia&#039;s trade data and foreign direct investment (FDI) flows between Namibia and the EU over the past decade. The findings highlight the growing importance of the EU as Namibia’s largest export market, particularly in sectors like agriculture, fisheries, and minerals.During her opening remarks, Ana Beatriz Martins, EU ambassador to Namibia, emphasised the significance of the economic partnership agreement (EPA) between the EU and Namibia, which has granted Namibia duty-free and quota-free access to the EU market since 2004.“This will help us better understand the evolution of Namibia’s exports to Europe, trends by destination, sectors and investments,” she said of the study. She further highlighted that such data strengthens policy analysis, identifies growth opportunities and supports economic planning.“It can also underpin more efficient resource allocation, for instance, identifying where investment in infrastructure, such as ports and logistics, is most needed. This is particularly important within the context of the EPA and the strategic partnership on raw materials value chains and renewable hydrogen between the EU and Namibia."Key investments The study also outlines the key sectors that have seen significant investment from the EU, including mining, renewable energy, infrastructure, manufacturing and green hydrogen.The EU revealed that the private sector in Europe has shown a strong commitment to Namibia’s economic diversification, particularly in the transition to green energy and industrialisation.“Trade is not just about exchanging goods; it is an instrument for development,” Martins added. “Our partnership with Namibia is about fostering long-term sustainable growth, creating jobs and building a resilient economy for the future.”Strategic allyMartins also noted that future collaboration would focus on improving critical infrastructure, such as ports and logistics networks, which are key to facilitating trade and attracting further investment.She further announced that the EU and Namibia are working together as part of the Global Gateway initiative, which aims to support the development of green technologies and renewable energy across the continent.“The EU is not just a trading partner; it is a strategic ally in Namibia’s journey towards prosperity and sustainability,” she said.

EU, Namibia strengthen trade ties

Comments

Namibian Sun 2025-04-02

Please login to leave a comment

EU, Namibia strengthen trade ties

Comments

Namibian Sun 2025-04-02

Please login to leave a comment

Login