Indian businesses to invest in Nam agriculture

27 Jan 2014 13:20pm
By Maggy Thomas
BANGALORE, 27 JAN (NAMPA) – Indian businesses have shown keen interest in exploring investment opportunities in Namibia in sectors such agriculture and agro-processing.
Minister of Trade and Industry Calle Schlettwein told Nampa this on Monday morning, immediately after his meeting with Indian Minister of Agriculture of the Government of Karnataka, Krishna Byre Gowda.
Schlettwein said there is a keen interest by India to explore investment opportunities to enable Namibia to pursue its ambition to add value to its agricultural produce and in the manufacturing sector in general.
He said that during the meeting they agreed to bring together businesspeople from both countries through their chambers of commerce and industries, so that they can explore possible investment opportunities in each other’s economies and drive Namibia’s intention to add value to its raw materials in an accelerated way.
India has been a close partner to Namibia since before Namibia’s independence in 1990.
“The country has made big strides in developing its industry and has now become an industrialised nation. We want to leverage that capacity and experience from a fellow developing country to assist us in our Vision 2030 to become an industrialised nation,” said Schlettwein.
He also encouraged Namibian businesses to invest in India.
“We have to move away from only inviting people to come and invest in our country. We must also start looking for opportunities to invest in their countries,” stressed the minister.
Schlettwein is leading a Namibian business delegation to India, and they will amongst others attend a Partnership Summit in Bangalore.
The summit will commence on Monday afternoon under the banner “Emerging Global Value chains: Building Partnerships”.
The gathering is expected to be attended by Ministers of Trade and Industry from countries such as the Czech Republic, Fiji, Indonesia, Iraq, Japan, Macedonia, Malaysia, Mauritius, Namibia, Qatar, Singapore, Tanzania, United Arab Emirates, Zambia, Zimbabwe, Cambodia, Canada and Mexico.
The summit will deliberate on issues such as how globalisation has motivated companies to restructure their operations internationally through outsourcing and offshoring of activities.
Delegates will also deliberate on the emergency of global value chains challenges, conventional wisdom and outlook on economic globalisation, and the policies which are developed around it.
The participants will also look at challenges and opportunities facing the emerging markets and developing economies as they seek to integrate into the global production chain.
Delegates will deliberate on how building partnerships will help the integration of companies from developing countries into the global value chain.