Limpopo, Namibia sign trade agreements

A ministerial delegation, led by MEC for Economic Development, Environment and Tourism, Collins Chabane, attended the annual Ongwediva Trade Fair 2007 in Namibia on Tuesday, 28 August.

The seminar was attended by governors from the four northern regions of Namibia, the Namibian Deputy Minister of Trade and Industry, South Africa's High Commissioner to Namibia Eunice Komane, and various business representatives from Limpopo and Namibia.

The Trade and Investment Seminar was hosted under the theme "towards attaining regional integration".

In his opening address the MEC said: "The peoples of Namibia and Limpopo share a common history of struggle, deprivation and underdevelopment, but above all they share a common destiny for development and prosperity."

The annual event has been hugely successful in the past, and Limpopo and Namibia agreed to establish a networking platform for Small, Medium and Micro Enterprises (SMMEs).

In addition, the delegations agreed to open export markets for Limpopo's SMMEs into Namibia.

According to the Department of Economic Development, Environment and Tourism, some of Limpopo's products on exhibition were purchased generating an income of over R27,000 with the potential for more orders.

The department said in a statement, "As we move towards concluding the business of the Trade Fair, we are confident that Limpopo will successfully defend its titles as the Best International Exhibitor and the Overall Winner of the Trade Fair that was won last year."

The High Commissioner in her address said, "Limpopo has touched the hearts and souls of the people of the northern regions of Namibia and vice versa, we view this as a major contribution as we move towards attaining regional integration."

According to figures from the Department of Foreign Affairs, South Africa is Namibia's most important economic partner and holds approximately 80% of all investment in key industries such as mining, retail, banking and insurance.

Both South Africa and Namibia are members of the Southern African Customs Union (SACU), which makes provision for the free flow of trade between the respective countries.

Article published courtesy of BuaNews