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Namibia and Tanzania plan to solidify their bilateral relationship with a focus on collaboration in agriculture, tourism, and fisheries. This comes after a concerted effort to enhance bilateral trade and investment when Namibia and Tanzania convened an Investment and Trade Forum on Thursday in Windhoek.
The forum, hosted by the Namibia Investment Promotion and Development Board (NIPDB) in collaboration with the High Commission of the United Republic of Tanzania in Namibia, brought together key stakeholders from both nations.
In the past five years, from 2019 to 2023, Namibia’s imports from Tanzania have predominantly been in the agriculture sector. In 2021, we recorded the highest imports from Tanzania, valued at approximately N$61 million, while 2022 and 2023 averaged around N$55 million, stated NIPBD. Despite these substantial imports, Namibia’s exports to Tanzania remain weak with the highest volumes recorded in 2023 falling under N$15 million. This imbalance in trade is something NIPBD aims to address.
Namibia imports a variety of agricultural products from Tanzania, including maize, rice, fruits, vegetables, and spices like cloves, which Tanzania is renowned for producing. Additionally, the fishing sector contributes significantly, with imports such as Nile perch, tuna, and prawns. Cement is also a major import from Tanzania. In 2019, Namibia’s exports were barely over one million, and while there was a slight increase in 2021, it dipped again in 2022. There was a notable boost in 2023.
Namibia’s exports to Tanzania include fishery products like monkfish and lobster, beverages such as beer and soft drinks, and machinery for mining and agriculture. Namibia’s thriving fishing sector and the potential for value addition in Tanzania’s fishing and livestock sectors. Namibia’s fishing industry is doing quite well, with access to markets in Europe and within Africa. This is not only for raw products but also processed products.
Caesar Waitara, High Commissioner of the United Republic of Tanzania to Namibia noted that Namibia’s market access strategies could serve as a model for Tanzania, underlining the mutual benefits of strengthened ties. He said the African Continental Free Trade Agreement (AfCFTA) aims to boost intra-Africa trade by creating a single market with approximately 1.3 billion consumers and a combined GDP of USD 3.4 trillion. Waitara said Tanzania is fully committed to the implementation of the AfCFTA with Namibia. Tanzania invites Namibian investors to come and produce goods and services that will access the African free trade area. Tanzania is ready to partner with Namibia to ensure mutual benefits from this potential market, emphasised Waitara.
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https://trendsnafrica.com/namibian-trade-deficit-widens-to-n4-9-billion/https://trendsnafrica.com/fish-products-worth-n4bn-from-namibia-exported-in-the-first-quarter/
The agreement is expected to enhance trade and investment relations among African countries, increasing Africa’s contribution to global trade and offering significant development opportunities. Namibia and Tanzania share a robust history of political and economic collaboration. This forum is a strategic step towards fortifying economic ties, particularly in agriculture (livestock), mining, tourism, and fishing sectors.
