By Frederick Philander
German-Namibia trade has been growing steadily over the past few years and it continues to grow.
With these words the Deputy Minister of Trade and Industry, Bernard Esau, on Monday welcomed a 20-person German business delegation to Namibia. The group is on a five-day business mission to make contact with Namibian counterparts.
“I would like to salute and congratulate Africa-Verein, as the leading business association for German companies, for its continued, unwavering support and commitment towards our country. We look forward to the further strengthening of investment and trade between our two countries,” said Esau.
The deputy minister announced that German-Namibia trade in 2006 amounted to 156 million Euro.
“The value of exports to Germany from Namibia has almost doubled from 2005 to 2006 from 53 million Euro to 94 million Euro, whereas imports from Germany has risen by a third from 40 million Euro to 61 million Euro. We can improve on these figures if we redouble our efforts, make use of the opportunities that abound and find innovative ways to do business together,” he said.
The German delegation is in the country to interact with local businesses for trade and investment opportunities.
“The Namibian Government recognizes the valuable contribution foreign investors together with domestic partners can make towards the transformation of our economy through industrialization. Such partnerships will further stimulate economic growth, create employment, introduce new technologies, develop new export markets and create market opportunities for our growing small and medium enterprises,” Esau asserted. This recognition is exemplified by the adoption of a regulatory and fiscal regime, which is highly conducive to investment.
“Our Government is fully committed to the principles of a free market economy. We also recognize as our responsibility to establish the appropriate legal and regulatory frameworks to enable the private sector to operate effectively and to generate wealth. This framework complements our political stability, our rule of law and our overall infrastructure to create a first-class investment environment,” he concluded.