Overdependence on the exports of minerals has prompted Namibia to rethink its growth and export strategy, and a new approach was explored during an UNCTAD-backed workshop in Windhoek, Namibia on 28-29 April 2015.
Exports of diamond, gold, precious and semi-precious stones, silver and other mineral and mining products accounted to in excess of 50 per cent of Namibia's total exports in 2012, but the country wants to add value to its exports, and the government's Vision 2030 plan captures this new emphasis.
The aim is to move to a diversified, open economy featuring resource-based industrial and commercial agriculture, and to place emphasis on skills development and the promotion of competitiveness in the export sector.
To help it to realize the trade-related objectives of Vision 2030, the Namibian government asked UNCTAD to provide support in the preparation of a new trade policy framework during a recent consultative stakeholders' workshop.
The objective of the workshop was to allow relevant stakeholders to provide thoughts and proposals to be reflected in the trade policy framework; including the challenges faced by the economy and the supply-side constraints.
This provides guidance to the national consultant who will soon undertake the trade policy framework study, financed by UNCTAD.
The two-day workshop identified several trade policy suggestions and principles that could be taken into account, among others:
Placing emphasis on export value-addition and diversification;
Developing necessary fundamentals that can catalyse and facilitate improved trade, including both hard and "soft" infrastructure such as human skills, knowledge, and innovation;
Encouraging more domestic direct investment, and more foreign direct investment in productive sectors of the economy to broaden its productive base and contribute to expanded export growth;
Enhancing regional integration and trade, multilateral trade, trade with emerging economies, and bilateral trade; and
Improving economic, social, attitudinal, cultural and institutional aspects to facilitate better trade.
Some 50 participants, comprising government officials led by International Trade Directorate Director Benjamin Katjipuka and officials from the National Chamber of Commerce and Industry of Namibia were present at the event.
Assistance to Namibia is a part of UNCTAD's continued support for countries' efforts to assess and formulate national trade policy framework. Such assistance has been extended to Angola, Papua New Guinea, Jamaica, Rwanda, and Zambia.
