Tanzania is seeking to attract investment from Namibia in livestock, agriculture and infrastructure as the two countries explore ways to expand trade and strengthen economic ties between East and Southern Africa.
The investment interest emerged during a joint meeting of African leaders and experts in Windhoek, attended by Deputy Minister for Industry and Trade Dennis Londo, who used the platform to promote Tanzania's investment opportunities.
The meeting brought together leaders and technical experts from East and Southern Africa to discuss ways of improving economic integration through cross-border infrastructure, trade facilitation and investment.
Speaking during a ministerial-level technical discussion, Mr Londo said Tanzania and Namibia had existing cooperation arrangements in trade, investment and industrial development that could provide a basis for stronger economic relations.
He called on the two countries to make better use of regional markets to increase trade flows and create opportunities for businesses.
Mr Londo also highlighted investment potential in mining, petroleum, livestock, tourism and fisheries, saying closer economic cooperation could help both countries unlock opportunities in these sectors.
He stressed the importance of creating a favourable investment environment, particularly for Namibian investors who have expressed interest in Tanzania's livestock sector.
However, he pointed to non-tariff barriers (NTBs) as among the challenges that need to be addressed to improve access for Tanzanian products in the Namibian market.
Removing such barriers and strengthening connections between business communities, he said, would help facilitate trade and enable businesses to access markets more easily.
The discussions form part of wider efforts to strengthen economic links between East and Southern Africa, particularly through improved infrastructure connectivity, trade and investment cooperation.
The meeting was organised by the United Nations Economic Commission for Africa (UNECA), in collaboration with its Sub-Regional Office for Eastern Africa (SRO-EA).