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India shows desire to set up incubation centre in Namibia; development of MSMEs discussed

Updated: Sep 07, 2016 01:04:55pm

New Delhi, Sep 7 (KNN) With a view to boost trade relationship between India and Namibia, the third Session of the India-Namibia Joint Trade Committee was held in New Delhi today. 

The Indian delegation was led by Minister for State for Commerce and Industry (Independent Charge) Nirmala Sitharaman. The Namibian delegation was led by the Deputy Minister, Ministry of Industrialisation, Trade and SME Development, Piet Van der Walt.

Co-operation in development of Micro, small and medium enterprises (MSME) 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.

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 was sought for the Indian requirement, said Ministry release.

It said that the Namibian side encouraged Joint Ventures in Mining and Mineral exploration with Epangelo Mining and Exploration company, 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.

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. (KNN Bureau)


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