11 Oct 2018 15:30pm
SWAKOPMUND, 11 OCT (NAMPA) International trade is crucial for advancing local economic growth because of the benefits it brings such as job creation, variety of products, investment opportunities, innovation and efficiency.
This was said by Erongo Regional Electricity Distributor Company (RED) Chief Executive Officer (CEO), Fessor Mbango, during the official opening of the sixth Swakopmund International Trade Exposition (SWAITEX) held here on Wednesday.
According to Mbango, local businesses should not only seize the opportunity at exhibitions to showcase their products and services but to also find ways on how to access international markets.
I believe that the international trade should not come at the expense of local businesses. Instead, international trade should afford local businesses opportunities to compete fairly and not to be forced out of business because of the multinational companies entering our market, he expressed.
Initiated by the Namibia Chamber of Commerce and Industry (NCCI) at Swakopmund, the expo is being held under the theme Growing Local Economy through International Trade.
In addition, the CEO noted that international trade should not only focus on exploration of local resources but rather bring value addition and job creation emanating from these resources.
Swakopmund Mayor, Pauline Nashilundo in a speech read on her behalf said that SWAITEX contributes to the strategic objectives of the town, which are to develop and promote the local business sector.
It is therefore important for local authorities to recognise the central role played by the business sector in order to create a more competitive business environment in the country, which can boost investor confidence and unlock business and employment opportunities, Nashilundo advised.
She also urged the business sector to develop commercially and socially sustainable solutions to the key challenges of high unemployment, poverty eradication and economic inequalities in our society.
SWAITEX was created in 2013 to provide an opportunity for business and community stakeholders to showcase their products and services to the public, while at the same time forging networks and business linkages for economic growth.
Close to 135 exhibitors are showcasing their different products this year.
The expo will end on Saturday.