Monday، 14 December 2015 12:00 AM
Egyptian products are imported mainly via South Africa in light of the low cost of transport from South Africa to Namibia, and trade has been significant particularly in the fields of medicine and electric cables. In bilateral trade, the Embassy has organized visits to representatives of leading Egyptian companies in the fields of food production, air-conditioning, electricity and cables, and the Embassy is following up to conclude any possible trade deals.
Inhibitors to trade include the small size of the Namibian market (2 million inhabitants distributed on 824,000 km2), significant transport costs due to distance between the two countries exceeding 5000km, significant poverty as middle category per capita income does not reflect high bias in income distribution. Moreover, Namibia has withdrawn from the COMESA trade block effective 2004.
Orascom Telecom Invests in Namibia in 2009:
As for investments, in 2009, Egyptian Telecell Globe, one of the companies of the leading Egyptian Orascom Group, made an investment in Namibia to acquire one of two Namibian mobile companies, namely Cell One (currently Leo), worth 88 million US$, and amounting to 210 US$ in a few years, making Egyptian investments one of the biggest foreign direct investments in Namibia.
Moreover, notable among other Egyptian companies investing in Namibia is AbdelWarith co., which is currently implementing an irrigation project in the north of Namibia worth Us$ 60 million.
- Agreement for the Establishment of a joint committee between the two countries in 20/05/1990, during the visit of Foreign Minister of Namibia to Cairo, the first agreement Namibia signed with another country.
- Agreement on cultural , scientific and technical cooperation in January 1993.
- Cooperation Agreement between the Egyptian Fund for Technical Cooperation with Africa and the University of Namibia in January 1993.
- Technical cooperation agreement between the Egyptian Fund and the Government of Namibia signed in August 1990 , renewal of the agreement in October 2005 extending the agreement to 2011.
- Memorandum of Understanding on agricultural cooperation signed in June 1999 during the visit of the Namibian Minister of Agriculture to Egypt.
- Agreement on Cooperation in the field of transport and air services during the visit of an Egyptian delegation from the Civil Aviation Authority and EgyptAir to Namibia in April 7, 2000.
- Agreement to update the technical cooperation agreement between Egypt and Namibia in October 2005.
- Memorandum of Understanding on political consultations between the Foreign Ministries of both countries in November 2006.
- Agreement for cooperation in the field of education signed during the fourth session of the joint committee in April 2009.
- Cooperation agreement in mining signed during the fourth session of the joint committee in April 2009.