India, Namibia agree to boost trade and investment ties
New Delhi, Aug 11 (IANS) India and Namibia have agreed to strengthen bilateral trade beyond a raw-material-based composition towards value addition, set up investment focal points and new working groups on pharmaceuticals and services at a two-day meeting between official delegations of the two countries, which concluded here on Tuesday.
The two countries have also identified structured cooperation across exploration, offtake, processing and downstream beneficiation of critical minerals such as lithium, graphite, copper, cobalt, and rare earth elements, in line with Namibia’s priorities of value addition and local employment creation.
The two sides have designated Invest India and the Namibia Investment Promotion and Development Board as Joint Trade Committee (JTC) investment focal points, with a named official on each side, according to an official statement issued after the meeting.
Closer cooperation has been identified in railways and rolling stock, solar and wind power, battery storage, transmission, green hydrogen, biofuels, and desalination.
A dedicated Services Working Group will also be constituted, which will meet no later than February 2027 and submit its work plan to the JTC.
Namibian participation has been invited in India’s Special Notified Zones at Surat and Mumbai and in the India Rough Gemstones Sourcing Show, together with training support in diamond cutting, polishing and jewellery design.
The first Joint Working Group under the Memorandum of Understanding on Cooperation in the Field of Health and Medicine will be convened by December 2026, while the Janaushadhi cooperation agreement with HLL Lifecare Limited is at an advanced stage of finalisation.
A decision was taken for the continued rollout of the instant payment system built on India’s Unified Payments Interface, unveiled in Namibia as “WayaMe’ on 15 June 2026, with proposals for a FinTech Cooperation Framework between the Reserve Bank of India and the Bank of Namibia.
Besides, the terms of reference have been finalised for the India-SACU PTA and scheduled for signature on 12 August 2026, with negotiations to commence within one month of signature and to conclude within one year, the statement added.
Cooperation was also taken forward at the session on agriculture and food security, MSMEs, textiles, tourism, and sports. The Fifth Session of the JTC will be held in Namibia in 2028 on dates to be mutually agreed through diplomatic channels, the statement added.
The Indian delegation at the India-Namibia Joint Trade Committee (JTC) was led by Amit Kumar, Joint Secretary, Department of Commerce, while the Namibian delegation was headed by Ndiitah Nghipondoka-Robiati.
The bilateral merchandise trade between India and Namibia rose to $592.94 million in 2025-26 from $568.40 million in 2024-25, with India’s exports at $349.09 million and imports at $243.85 million. Trade in services grew by 7.34 per cent to $380 million in calendar year 2024.
India’s engineering exports grew by 124.06 per cent to $30.24 million, led by motor vehicles and components. Exports of pharmaceuticals and medical devices reached $36.50 million, with India being Namibia’s second-largest pharmaceutical source with a 16.4 per cent share.
–IANS
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