Maria David
PRESIDENT Hage Geingob and South Africa President Cyril Matamela Ramaphosa will co-chair the presidential segment of the 3rd session of the Bi-National Commission (BNC) on Friday.
This follows after the two leaders had agreed to convene in Namibia when President Geingob visited South Africa earlier this year.
In order to strengthen business-to-business exchanges, a Namibia-South Africa Business Forum will be held on the margins of the Bi-national Commission.
President Geingob and President Ramaphosa will deliver remarks on the occasion of the Business Forum.
The BNC was first held in November 2012 and has since served as a vital platform to further enhance bilateral cooperation, including exchanging views on issues of mutual interest and coordination of diplomatic positions at the regional and multilateral fora.
According to a press statement issued by the presidency, the 3rd Session of the BNC will review cooperation in a wide range of areas, including Diplomatic and Legal, Economic, Social, and Defence and Security.
It will also serve as an opportunity for the two countries to strengthen the bonds of friendship by assessing the progress made in implementing the decisions of their BNC.
The Presidential segment of the BNC will be preceded by the Ministerial segment, which will be co-chaired by Netumbo Nandi-Ndaitwah, Deputy Prime Minister and Minister of International Relations and Cooperation of the Republic of Namibia, and Naledi Pandor, Minister of International Relations and Cooperation of the Republic of South Africa.
The presidency indicated that Namibia and South Africa are important trading partners, both in terms of exports and imports.
“South Africa has the highest number of companies doing business in Namibia, and Namibia is one of the biggest investors in the South African economy,” read the statement.
Further, the two countries are members of the Southern African Development Community (SADC) and the Southern African Customs Union (SACU), of which the latter has an important mandate of industrialization of the member states.
In 2022, the total trade volume between Namibia and South Africa reached an impressive N$67.1 billion, showcasing the substantial economic engagement between these two nations.
According to the statement, this figure marked a substantial increase of 13.5% compared to the previous year when total trade stood at N$59.1 billion.
This significant uptick in trade highlights the resilience and adaptability of the economic ties between Namibia and South Africa.
Namibian exports to South Africa marked an upswing and reflect the diversity and competitiveness of Namibian products in the South African market, underpinned by factors such as product quality, innovation, and market demand.
Further, as Namibia’s leading trading partner, South Africa serves as a vital gateway for Namibian products to access regional and global markets.
Simultaneously, as part of a mutually interdependent relationship, South Africa provides Namibia with essential goods, services, and resources, contributing to the stability and growth of Namibia’s economy.
