Procurement News Notice |
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| PNN | 8993 |
| Work Detail | The third session of the India-Namibia Joint Trade Committee took place here yeserday with the Indian delegation led by Minister for State for Commerce and Industry Nirmala Sitharaman and the Namibian delegation led by Deputy Minister for Industrialisation, Trade and SME Development Piet Van der Walt. During the meeting the close and cordial relations enjoyed by both the countries were highlighted. It was also recalled that during the visit of the President of India to Namibia in June, the Indian and Namibian sides agreed inter-alia to convene the next meeting of the Joint Trade Committee at an early date. The Deputy Minister from Namibia stated that JTC is an ideal frame work for trade and economic expansion between the two countries and expressed a strong desire to further deepen the trade relations. On the issue of bilateral trade, it was shared that during 2015, India was the seventh largest country from whom Namibia sourced its imports. JTC further noted that five rounds of India-Southern Africa Customs Union(SACU)Preferential Trade Agreement (PTA) negotiations have been held so far. The fifth round of negotiations was held in New Delhi in October 2010. Conclusion of the PTA would create opportunities for increased trade flows. The Indian side conveyed to the Namibian side that leather, gems and jewellery, food processing products and engineering goods like electrical and mechanical appliances are sectors that India can cooperate with Namibia to meet Namibia’s requirements. Metals and mineral from Namibia were sought for the Indian requirement. The Namibian side encouraged joint ventures in mining and mineral exploration with Epangelo Mining and Exploration company, and trade of precious and semi precious gems and stones was discussed. Namibia expressed interest in development of skills through training in the fields of gems and jewellery to encourage local value addition and employment opportunity in Namibia. Namibia also expressed willingness to utilise $100 million of line of credit for them. Water management related infrastructure development was also discussed in the meeting. India offered to share its experience with Namibia and assured the Namibian side of its fullest cooperation in this field. Cooperation between both the countries in hydro-electric projects and solar projects and water resource management were important items in the agenda. Cooperation in development of Micro, small and medium enterprises also found a prominent place in the discussions held. The Indian side also communicated the willingness of the National Industries Corporation Limited to set up one vocational training centre-cum-incubation centre in Namibia on mutually agreed terms and conditions. Cooperation in the fields of tourism was also discussed. It was decided that an agreement would be facilitated wherein joint training, development of tourist destinations, enhancement of people to people interaction etc would be undertaken. From the Namibian side the issue of extension activities in production of Bajra by India was highlighted. Namibia also expressed need for handholding and technology transfer for fertilizer manufacturing and vaccine production in Namibia. Besides this, provisioning of market for table grapes and dates was also discussed. The discussion concluded in a warm and cordial atmosphere reflecting the friendly relations between the two countries. The meeting concluded with the signing of the mutually agreed document, an official release said. |
| Country | India , Southern Asia |
| Industry | Financial Services |
| Entry Date | 15 Oct 2016 |
| Source | http://netindian.in/news/2016/09/08/00039458/3rd-session-india-namibia-joint-trade-committee-concludes |
