The United Arab Emirates has indicated its readiness to explore a free trade agreement, investment protection accord and double taxation agreement with Namibia as part of efforts to expand bilateral trade and deepen private sector investment.
Speaking during the Namibia–UAE Business Forum on Tuesday, UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi said current trade volumes do not reflect the full economic potential between the two countries.
“Our bilateral non-oil trade was around US$260 million last year, and I am sure this does not reflect the capabilities of both nations. We can do much, much higher than these numbers,” he said.
Al Zeyoudi noted that the UAE’s non-oil trade surpassed US$1 trillion last year, driven by expanded trade agreements, logistics investments and broader trade partnerships.
“We concluded 10 agreements with African nations and we are ready to explore that with Namibia. Complementing that, we are very interested in investment protection agreements as well as double taxation arrangements. This is going to send a message to the private sector that the two governments are working together and that a supportive ecosystem will be provided to businesses and investors from the UAE side,” he said.
Namibia’s Minister of International Relations and Trade, Selma Ashipala-Musavyi, said the visit builds on bilateral relations dating back to 1990 and aligns with government’s seven development priorities under the eighth administration of President Netumbo Nandi-Ndaitwah.
She said trade data shows Namibia’s main exports to the UAE include diamonds, scrap metal, charcoal, precious stones, frozen fish and grapes, while imports from the UAE range from petroleum oils and fertilisers to machinery and automotive parts.
Ashipala-Musavyi said Namibia is seeking greater export diversification and value addition, including in diamond cutting and polishing.
“We invite the UAE to explore investment in Namibia’s diamond cutting and polishing industry, and also to form joint ventures to increase value addition before exports,” she said.
She added that Namibia is keen to expand beef and meat exports to the UAE market while strengthening cooperation in agro-processing, irrigation technology and food value chains.
At the same event, Acting Chief Executive Officer of the Namibia Investment Promotion and Development Board (NIPDB), Jessica Hauuanga, described the UAE as a strategic partner and global economic hub.
“It is therefore our wish that this business forum marks the beginning of ongoing dialogue and strategic partnership that translates into joint ventures and bankable projects to expand the trade and investment linkages that already exist,” she said.
Namibia also highlighted the upgraded container terminal at the Port of Walvis Bay and its logistics corridors as potential areas for infrastructure collaboration, positioning the country as a regional trade hub.
This article was first published here in partnership with The Brief