Justicia Shipena
The minister of international relations and trade, Selma Ashipala-Musavyi, says Namibia wants to attract investment from Russia to support industrial development, technology transfer and job creation.
She said this during the Namibia–Russia Business Forum in Windhoek on Friday.
The forum provides a platform for engagement between governments, businesses, financial institutions and research organisations from both countries.
“These engagements are designed to promote technology transfer, strengthen value chain development and facilitate strategic investment matchmaking between companies and institutions from both countries,” she said.
The forum was held alongside the 11th session of the Intergovernmental Commission on Trade and Economic Cooperation between Namibia and Russia, which began on 13 March and will conclude today.
The ministerial session today will be co-chaired by Ashipala-Musavyi and Russian deputy prime minister Yury Trutnev, who also serves as the presidential envoy to the Far Eastern Federal District.
The session followed a senior officials’ meeting on 13 March co-chaired by the executive director of the Ministry of International Relations and Trade, Ndaitah Nghipondoka-Robiati, and her Russian counterpart.
Discussions focused on strengthening cooperation in sectors including mining, education, health, transport, agriculture, waste management, trade and investment, and legal cooperation.
More than 300 business representatives from Namibia and Russia attended the Namibia–Russia Business Forum.
Ashipala-Musavyi said economic relations between the two countries are developing but remain modest.
According to her, Namibia exported fisheries products worth about N$69 million to Russia in 2024. The country also exported horticultural products such as grapes and dates valued at about N$27 million.
Namibia imported agricultural inputs from Russia, including fertilisers and cereals such as wheat and meslin, valued at about N$259 million.
Overall trade between the two countries shows Namibia importing about N$738 million worth of goods from Russia and exporting around N$243 million.
Ashipala-Musavyi said the current trade pattern shows room for growth and stronger cooperation.
She said Namibia is focusing on economic transformation and industrialisation through value addition to natural resources and the development of competitive industries.
The forum highlighted cooperation opportunities in agriculture, agro-processing, mining, mineral processing, manufacturing, logistics, education, information technology and innovation.
Ashipala-Musavyi said Namibia’s location and infrastructure provide access to regional and continental markets.
“Our transport corridors and the Port of Walvis Bay provide access to the African market in the context of SADC and the African Continental Free Trade Area,” she said.
She said Namibia is committed to creating a stable environment for investors.
“In Namibia, you are guaranteed political stability, respect for the rule of law, protection of investments and the freedom to repatriate profits,” she said.
Russia’s Trutnev said Russia is interested in expanding economic cooperation with Namibia.
He said the Russian delegation included representatives from several state and private companies.
Trutnev said relations between the two countries date back decades.
He said the current level of trade between the two countries remains low.
“It is evident that the level of trade between our countries is not sufficient,” he said.
Despite the low trade figures, Trutnev said the relationship continues to develop.
“I am sure that we can find possibilities of further cooperation in fields such as energy, high technologies, mining and petrochemicals, IT, financial services and agriculture,” he said.
He also highlighted cooperation in education.
“At present, 220 people from Namibia are getting education in universities of the Russian Federation and we are prepared to continue and expand this cooperation in the future,” he said.
Trutnev said Russia’s Foreign Economic Bank is prepared to support investment projects in Africa.
“The development of contacts in this sphere is not only a basis for economic relations but also for friendship between our countries and our governments,” he said.
