Saturday, November 12, 2011

(TALKZIMBABWE) Zimbabwe, Namibia in trade talks

Zimbabwe, Namibia in trade talks
Posted by By Our reporter at 10 November, at 06 : 54 AM

The Namibian and Zimbabwean governments are meeting in Walvis Bay to discuss matters of trade between the two Southern African Development Community (Sadc) member states.

Ministers of trade from both countries are present, and alongside business delegations from the Namibia Chamber of Commerce and Industry (NCCI) and the Zimbabwean National Chamber of Commerce are holding talks on how best to bolster the trade agreements that exist between the two countries.

Representatives attending the meetings are from the manufacturing, construction, food and retail sectors as well as a representative from the Namibia Manufacturers Association (NMA).

The visit creates an ideal environment for the exploration of opportunities and business-to-business exchanges between the two business communities.

Zimbabwe and Namibia signed a Preferential Trade Agreement (PTA) in 1992 that provides for the exclusion of customs duty for goods with 25 percent local content.

However, trade between the two countries is still very limited in contrast to the cordial relations the two governments have, which is also reflective of intra-regional trade in the rest of the Sadc region.

Sadc trade is still heavily skewed in favour of developed economies despite a push for regional countries to trade amongst themselves.

South Africa being the economic powerhouse derives major trade benefits from the countries in the hinterland – despite a push by Sadc principals to encourage trade beyond South Africa.

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