Namibia and Venezuela last Thursday signed an agreement on trade and economic cooperation in an effort to strengthen ties.
The agreement was signed by industrialisation and trade minister Lucia Iipumbu, and Johann Álvarez Márquez, the Venezuelan vice minister for foreign trade and investment promotion, in the Venezuelan capital Caracas.
Iipumbu arrived in the Latin American country last Wednesday.
According to a statement by ministry spokesperson Elijah Mukubonda on Sunday, the agreement is a follow-up on the commitments within the framework of the first Venezuela-Namibia Joint Commission of Cooperation (JCC) that took place in Windhoek in March, specifically in the economic areas encompassing trade, agriculture, mining and housing.
Mukubonda said the agreement would benefit Namibia through economic intelligence/information exchange, the development and exploitation of trade, industrial cooperation and investment opportunities.
He described the agreement as a glowing testimony of the bilateral ties between the two countries.
Venezuela and Namibia established diplomatic relations on 22 May 1990 and Mukubonda said these have resulted in the signing of 22 cooperation instruments in politics, education, culture, library services, communication, mining, oil, agriculture, housing, women and gender equality, electoral processes, work and social development.
He said Namibian products with export potential to Venezuela include fresh table grapes, dates, fish, beef and salt and minerals (marble, uranium and diamonds).
“Venezuelan products with export potential to Namibia include petroleum, coffee, heavy pure woven cotton, sugar, wheat and rice,” Mukubonda said.
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