Angola, Namibia sign agreement on trade
The two countries have also established a joint trade committee which is going to identify sectors critical for trade and investment.
Namibia’s ministry of trade permanent secretary Andrew Ndishishi said that the committee would also identify products from both countries that should be considered for preferential treatment.
“The joint trade committee would among other issues seek to promote information dissemination to stakeholders in both countries, the prevailing trade regimes and opportunities available in the areas of trade and investment,” Ndishishi said.
The committee shall meet twice a year with meetings alternating between the two countries, Ndishishi said.
He added that trade promotion agencies from both countries, the Namibia Investment Centre and ANIP from Angola would soon sign an agreement to enhance promotion and facilitate investment.
In addition, a memorandum of understanding between the Namibia Custom and Excise and Angola Customs and Administration would soon be signed.
“This agreement is to facilitate the movement of goods and services between the two countries so that the current difficulties experienced by traders could be resolved,” Ndishishi said.
Namibia and Angola recently abolished visas to enable ease movement of people between the two countries.
Joaquim Muafumba, Angolan minister of commerce, who signed the trade communiqu’ with Erkki Nghimtina, acting Namibian minister of trade, said that trade between the two countries, though huge, is still characterised by informal trade, which is difficult to quantify.
Officials from both countries however expressed hope that trade was set to increase.
The trade body, officials said, could pave the way for the implementation of bilateral trade agreements signed in 2004 and ratified in 2005.
The move is also in line with SADC regional integration initiatives, analysts said.