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NACCIMA, Namibian chamber sign MoU on trade

By BusinessNews Staff on April 20, 2014

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture and the Namibian Chamber of Commerce and Industry have signed a Memorandum of Understanding aimed at promoting mutual business cooperation between the two countries.

A statement signed by the Director-General of NACCIMA, Dr. John Isemede, said the MoU was signed at the Nigeria-Namibia Business and Trade Forum held in Windhoek, Namibia, recently.

It added that the NACCIMA’s National President, Alhaji Mohammed Abubakar, who was represented at the forum by the National Vice-President of the Association, Mr. John Udeagbala, expressed the hope that the MoU would consolidate business deals that would be beneficial to both countries.

Udeagbala was quoted as saying that the peculiar challenges of the Nigerian business and investment environment like that of Namibia had tremendously improved with numerous opportunities in agriculture, manufacturing, solid mineral, oil and gas, tourism, electricity and telecommunications.

It also quoted the President of the NCCI, Ms. Martha Namundjebo-Tilahun, as saying that the MoU was expected to lead to joint venture partnerships for the private sector of both countries.

The statement added that there were also discussions in areas of cooperation between the two countries led by the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, who also commended NACCIMA for its determined efforts in collaborating with the government to achieve speedy economic transformation.

The areas of collaboration identified during the discussion, according to the statement, include mining where the key role played by the two countries will ensure effective collaboration and sharing, especially in improving legal and regulatory framework.

The statement read in part, “The discussion also revealed that Namibia has abundant raw material for the glass industry. Namibia business operators, however, appealed for support in the areas of research and technical expertise.

“In the tourism sector, the private tour operators agreed to collaborate and support each other in promoting organised tours between the two countries. This cooperation, they said, would further advance development in the tourism sub-sector of both economies. While Namibian oil and gas companies indicated interest in establishing firms that would operate in the free trade zones, the Nigerian Investment Promotion Commission also agreed to work out the possibility and assessment to facilitate the investment.”

It added that Namibia investors also indicated interest in the agricultural produce from Nigeria, showing interest in importing yam, melon, plantain, groundnuts and bush honey.

[Punch]

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