Namibia/China trade records 107 per cent growth

WINDHOEK, 31 MAR – Growth in trade relations between Namibia and China has been aided by mutual trust, solidarity and pursuit of enhanced cooperation, President Hage Geingob said Thursday.
Geingob was speaking to Chinese President Xi Jinping and his senior subordinates during a state visit to China.
A statement of the occasion made available to Nampa on Saturday quoted Geingob as saying preliminary figures show a growth of 107 per cent from US Dollars 242 million recorded in 2007 to US Dollars 501 million in 2017.
He added that currently China is one of Namibia’s major investment investors of which the investment by the China Guangdong Nuclear Power Group in the Husab Uranium Mine of US Dollars 4 billion stands out significantly.
“We remain confident that once this project is at full production and global commodity prices improve, it will result in significant employment and revenue generation,” he said.
Geingob added that there is still vast potential that exists in terms of cooperation between the two countries.
He emphasised that the scope of trade and investment has not reached its full potential, particularly in the areas of energy; agriculture; tourism; infrastructure development; mining; tourism; and information, communication and technology.
“This visit to China should allow us to expand our partnership and open new areas of cooperation, so as to fully optimise the immense uncapped potential,” Geingob stated.
The Namibian leader reiterated that his country seeks to draw from Chinese expertise in the area of information technologies (IT), adding that China has made great progress in the area of IT.
“Thus, the construction of the Ground Station with the framework of the space tracking, telemetry and command station is of crucial importance to Namibia, as it will enhance our technological capacity,” Geingob said.
Construction of the space tracking, telemetry and command station at Swakopmund was completed in July 2001, following an agreement signed in October 2000 between the two governments.
Geingob’s visit to China is scheduled to end on Tuesday.

NAMPA