ONGWEDIVA, Aug. 29 – President Hage Geingob said that Trade fairs provide important marketing opportunity for local entrepreneurs, especially small and medium sized enterprises (SMEs.)
He made the remarks during the official opening of the 18th Ongwediva Annual Trade Fair in Ongwediva yesterday.
Moreover, Geingob sees trade fairs as opportunities to network and facilitate trade through business linkages between domestic and international entrepreneurs, while constant transformation of the fair is necessary in order to sustain innovation and competitiveness.
“The beneficial effects of trade and overall economic development has been well documented,” said Geingob, adding that people often focus on international trade or trade within regional economic blocs.
He urged people to trade in goods and services within the national boundaries of the country as this is equally important and highly encouraged.
Geingob further used the event to dismiss the blame that Government is the cause of Namibias economic downturn.
“The economic downturn was caused primarily by external factors, particularly the subdued commodity prices and the decline in the South African Customs Union (SACU) receipts,” he explained.
The President said insinuations that Government is to blame for the economic downturn are disappointing and not true, and can be attributed to domestic politics.
According to him, deep budgetary cuts and reform measures were initiated because Government values Namibia’s macro-economic stability.
“That is why Namibia has never gone to the International Monitory Fund (IMF) for an economic bailout package or entertain any internationally imposed structural reform programmes,” said Geingob.
Geingob described the OATF as a leading trade and exhibition event on the Namibian business calendar, which stems from humble beginnings in 2000 and has grown into the type of event that the leadership of Ongwediva Town Council, the Oshana Region, can be proud of. – Maria Abraham