Namibia’s access to markets across Africa to increase due to opportunities presented under the AfCFTA
The Africa Continental Free Trade Area (AfCFTA) will increase our access to a market across Africa, with a combined GDP of US$3.4 trillion, Deputy Prime Minister and Minister of International Relations and Cooperation (MIRCO), Netumbo Nandi-Ndaitwah said during her budget motivation speech at National Assembly on Tuesday.
According to Nandi-Ndaitwah the mission in Accra, Ghana, the host of AfCFTA Secretariat, has become one of Namibia’s major economic post, which is to advise on how best to benefit from that trade agreement.
Nandi-Ndaitwah said in line with the strategic objectives of the ministry to pursue economic diplomacy with special emphasis on creating market access for local products, the ministry will seek niche markets for Namibian products.
“To mention the Namibian salt is in demand in many parts of Africa and beyond for household and industrial purposes. Therefore, MIRCO will endeavour to capitalize on this demand by linking local suppliers with these regional and international markets, the aim is to increase trade and investment in order to grow our economy, create jobs and eradicate poverty,” she added.
Furthermore, she said that since Namibia is a coastal state renowned for its well-developed fishing industry, it is, therefore, time to take advantage of the blue economy in its totality.
“To that end, the ministry will facilitate and initiate engagements to strengthen cooperation between the Namibia Port Authority and other port authorities and also the local fishing industry to share the experience with others, to bring up a mutual benefit,” she said.