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Namibia expects increase in trade turnover with Russia due to technological sector

Peya Mushelenga also mentioned subsoil management and energy as prior cooperation areas and expressed confidence that organization of specialized webinars will also facilitate cooperation between the two countries’ business communities

MOSCOW, March 27. /TASS/. Namibia notes a high level of Russia’s technological sector and it expects the expansion of economic cooperation in this direction to push trade turnover between the two countries up, Namibian Minister of International Relations and Cooperation, co-chair of the intergovernmental Russian-Namibian commission Peya Mushelenga said.

"Indeed, the current level of trade turnover between Russia and Namibia is rather low," he said at the 10th meeting of the Russian-Namibian intergovernmental commission on trade and economic cooperation. "For increasing it, it is necessary to focus on a number of areas where we could boost cooperation. <…> For example, we see that Russia has a high technological level. And information technology is one of the areas that will allow ensuring the highest potential for growth of bilateral trade turnover," the minister added.

He also mentioned subsoil management and energy as prior cooperation areas and expressed confidence that organization of specialized webinars will also facilitate cooperation between the two countries’ business communities.

Bilateral trade between Russia and Namibia totaled $8.1 mln in 2022, according to figures provided by the Russian Foreign Ministry. That said, the sides have repeatedly noted the interest in increasing its volumes. The two-sided intergovernmental commission on trade and economic cooperation is the main mechanism for practical cooperation in this area.

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