21 Mar 2014 17:30pm
WINDHOEK, 21 MAR (NAMPA) - The Namibia Chamber of Commerce and Industry (NCCI) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) signed a memorandum of understanding on Thursday.
The MoU focuses on the areas of tourism, film-making, oil and gas exploration, as well as agriculture, NACCIMA National Vice President, Ide Udeagbala said during the Nigeria/Namibia Business Forum held in the capital on Friday.
“Nigeria’s oil and gas-free zones offer undoubted advantages and incentives to Namibian companies to invest in Nigeria,” he stressed, adding that Nigeria plans to erect an oil refinery in Namibia.
Joint ventures in salt processing between the two countries are also on the cards.
Agricultural imports from Nigeria could include cashew nuts, cassava, cocoa beans, groundnuts, and honey.
The Nigerian group of companies, Talveras would like to expand business opportunities in the Southern African Development Community (SADC). The Taleveras Group offers global solutions in energy, power and construction.
Speaking at the same occasion, Minister of Trade and Industry Calle Schlettwein noted that the agreement between the two countries has one objective - to improve the lives of people in both countries.
However, he raised the concern that Namibia mostly exports raw materials and by that, exports all the wealth out of the country.
“We must export finished goods to create value-addition at home and to create economic opportunities for our people,” he stressed.
Schlettwein raised the concern that although Namibia and Nigeria have binding bilateral engagements, trade between the two countries has been low.
Speaking at the same occasion, the Federal Minister of Industry, Trade and Investment of Nigeria Olusegun Aganga said a trade committee would be set up in the next two weeks to foster business opportunities between the two countries.
“This is the beginning of many things. The opportunities are huge between the two countries,” he added.
Nigerian president Goodluck Ebele Jonathan and his 56-member delegation arrived in the country as part of a two-day State visit to Namibia on Thursday.