National Assembly speaker Peter Katjavivi says Namibia stands to benefit greatly from being a member of the Brics group of countries (Brazil, Russia, India, China and South Africa).
Katjavivi made these remarks during the 9th Brics Parliamentary Forum held in Johannesburg, South Africa, from 27 to 29 September.
According to parliament on Facebook, Katjavivi was invited to attend the forum by his counterpart Nosiviwe Mapisa-Nqakula.
During the meeting, Katjavivi said even though Namibia was not yet a member of the bloc, its level of trade with current member countries has considerably improved.
“I am happy to reveal that as of 2022, Namibia’s trade volume with current Brics countries has significantly increased. Therefore, Namibia already benefits immensely from Brics’ countries and joining the bloc would amplify and even provide more growth and expansion,” he said.
According to parliament, Katjavivi said the expected expansion of the bloc, which currently accounts for more than 40% of the world population and over 25% of the global gross domestic product, would result in immeasurable economic activities.
Katjavivi implored African countries to capitalise on the African Continental Free Trade Agreement (AfCFTA) in order to increase economic activities and achieve sustainable development so that the continent can liberate itself economically.
Parliament said Katjavivi reminded lawmakers about the importance of collaboration and the role of the legislature in fostering economic growth and expansion.
“This forum presents an opportunity for us as parliaments in the developing world to connect with each other and establish linkages.
Such linkages will hopefully mutually benefit our quest to represent, enact and oversee financial and economic legislation that is responsive to the needs and aspirations of our people and cognisant of the ongoing expansion of the bloc,” Katjavivi added.
The theme of this year’s forum was: ‘Harnessing Multilateralism and Parliamentary Diplomacy to Deepen Brics and Africa Partnership for Accelerated Implementation of the AfCFTA.”
Brics is focused on economic cooperation, multilateral trade and development. So far, almost 40 countries have expressed interest in joining the alliance.
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