Namibia has expressed interest in investing in Tanzania’s livestock, infrastructure and agricultural sectors, opening up opportunities for stronger trade and economic cooperation between the two countries.
The interest emerged during a meeting of African leaders and experts from East and Southern Africa, where Tanzania’s Deputy Minister for Industry and Trade, Mr Dennis Londo, presented investment opportunities available in the country.
Speaking during a ministerial-level technical discussion, Mr Londo said Tanzania and Namibia should build on their existing cooperation arrangements to expand trade, attract investment and strengthen industrial development.
“Namibia and Tanzania already have cooperation arrangements in trade, investment and industry. We should use these existing relations to open up more opportunities for our businesses and make better use of regional markets,” he said.
He identified mining, oil and gas, livestock, tourism and fisheries as sectors that could drive economic growth and create opportunities for investors from both countries.
Mr Londo particularly encouraged the two countries to translate Namibia’s investment interest into concrete business partnerships, stressing the importance of creating an enabling environment for investors.
He also called for the removal of non-tariff barriers (NTBs) affecting Tanzanian products in the Namibian market, saying such obstacles needed to be addressed to facilitate trade.
“Addressing non-tariff barriers is important in ensuring that our products can access the Namibian market more easily. We also need to connect business stakeholders from both countries to facilitate partnerships and improve access to markets,” he said.
The meeting seeks to strengthen economic integration between East and Southern Africa, with discussions focusing on infrastructure connectivity, trade facilitation and investment promotion.
It was organised by the United Nations Economic Commission for Africa (UNECA), in collaboration with its Subregional Office for Eastern Africa (SRO-EA).