馃嚦馃嚘NamibiaSouthern Africa
Namibia seeks value addition to natural resources to reduce trade deficit with China
via The Namibian4 min read
Selma Ashipala-Musavyi, Minister of International Relations and Trade, has called for enhanced collaboration with China to add value to Namibia's natural resources and address its trade deficit. Speaking at the Namibia鈥揝henzhen Networking Cocktail Reception in China, Ashipala-Musavyi highlighted that Namibia primarily exports raw materials while importing high-value finished goods, leading to a trade imbalance. Despite an increase in exports over the years, Namibia experiences a negative trade deficit with China and other countries, which she believes can only be closed through value addition to its resources. China is a key trading partner, ranking second for Namibia's imports and third for exports. Trade between the two nations grew from US$1.2 billion in 2019 to US$1.44 billion in 2024. Namibia's exports to China mainly include resource-based products such as uranium, copper, and fish, while imports consist of manufactured goods like machinery, vehicles, textiles, and household items. Ashipala-Musavyi emphasized that value addition and beneficiation of natural resources are crucial to Namibia's economic strategy, aiming to create jobs and improve living standards. She encouraged Chinese businesses to invest in local processing and production, noting Namibia's rich resources and opportunities in sectors like agriculture, mining, energy, manufacturing, and tourism. Namibia is also positioning itself as a regional manufacturing and logistics hub, supported by infrastructure d
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This summary was AI-generated from a story originally published by The Namibian.
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