Namibia, Russia explore trade opportunities

AS a way of strengthening relations with Russia, Windhoek is hosting a two-day inaugural session of the Namibia-Russia Intergovernmental Commission on Trade and Economic Co-operation, which started yesterday.

The Russian delegation of nearly 30 representatives is led by the country’s Minister of Natural Resources, Yury Trutnev, while the Namibian delegation is headed by Education Minister Nangolo Mbumba. In 1998, then Presidents Sam Nujoma and Boris Yeltsin signed an agreement establishing the Joint Inter-Governmental Commission on Trade and Economic Co-operation aimed at expanding trade and economic co-operation between the two countries.Speaking through an interpreter at the opening session, Trutnev lamented the fact that the commission had taken so long to get off the ground and that some agreements were still to be signed.He also said trade volumes between the two countries had significantly decreased in the past five years and that the economic gap between the two countries had widened.Trutnev also said it was unfortunate that currently there was too little happening in terms of economic relations between the two countries – emphasising that strengthening bilateral ties would benefit both countries’ economies and the lives of their citizens.He added that the commission should create a working organ that would address some of these challenges.Mbumba welcomed the Russians and said such initiatives were necessary to deepen the two countries’ co-operation.He said Namibia could learn significantly from Russian expertise.”Namibia …has a number of unexplored deposits of minerals and potential for co-operation in the field of energy generation and utilisation which presents an excellent opportunity for co-operation.The Joint Commission is, therefore, the most appropriate mechanism through which these initiatives could be channelled for the benefit of both countries,” he said.The Russian delegation has expressed interest in the areas of oil and uranium exploration, the energy sector, tourism, fisheries and aquaculture and financial services.Both parties said they wished to see the two-day deliberations culminate in fruitful results and consolidate the countries bilateral ties.The two countries have to date signed over 20 agreements in various areas which include co-operation in the areas of education, health, mining and exploration, transport services, policing, tourism and trade promotion.However, a number of these agreements still need to be ratified by Parliament.The meeting ends today.In 1998, then Presidents Sam Nujoma and Boris Yeltsin signed an agreement establishing the Joint Inter-Governmental Commission on Trade and Economic Co-operation aimed at expanding trade and economic co-operation between the two countries.Speaking through an interpreter at the opening session, Trutnev lamented the fact that the commission had taken so long to get off the ground and that some agreements were still to be signed.He also said trade volumes between the two countries had significantly decreased in the past five years and that the economic gap between the two countries had widened.Trutnev also said it was unfortunate that currently there was too little happening in terms of economic relations between the two countries – emphasising that strengthening bilateral ties would benefit both countries’ economies and the lives of their citizens.He added that the commission should create a working organ that would address some of these challenges.Mbumba welcomed the Russians and said such initiatives were necessary to deepen the two countries’ co-operation.He said Namibia could learn significantly from Russian expertise.”Namibia …has a number of unexplored deposits of minerals and potential for co-operation in the field of energy generation and utilisation which presents an excellent opportunity for co-operation.The Joint Commission is, therefore, the most appropriate mechanism through which these initiatives could be channelled for the benefit of both countries,” he said.The Russian delegation has expressed interest in the areas of oil and uranium exploration, the energy sector, tourism, fisheries and aquaculture and financial services.Both parties said they wished to see the two-day deliberations culminate in fruitful results and consolidate the countries bilateral ties.The two countries have to date signed over 20 agreements in various areas which include co-operation in the areas of education, health, mining and exploration, transport services, policing, tourism and trade promotion. However, a number of these agreements still need to be ratified by Parliament.The meeting ends today.