WINDHOEK, Oct. 17 (Xinhua) -- Namibia and the European Union (EU) will engage in the first-ever EU-Namibia Business Forum set to take place from Oct. 24-25, in Brussels, Belgium, according to Gosia Lachut, charge d'affaires of the EU Delegation to Namibia.
The forum is jointly organized by the Namibia Investment Promotion and Development Board (NIPDB) and the EU.
Lachut said at the press conference held Tuesday in Windhoek, the capital of Namibia, that the key objective of the forum is to support Namibia's investment promotion efforts to attract European direct investment as well as foster close cooperation between the two parties.
"The forum is timely, as it builds upon the agreement signed between President Hage Geingob and EU Commission President Ursula von der Leyen in 2022, establishing a strategic partnership between the EU and Namibia to create and strengthen Green Hydrogen and Sustainable Critical Raw Materials Value Chains in Namibia," she said.
The forum will be hosted under the theme: "Mobilizing quality investment and value addition for green growth in the EU-Namibia partnership," with a focus on green hydrogen and sustainable critical raw materials value chains.
The EU-Namibia Business Forum is set to begin with an opening ceremony featuring Namibia's President Hage Geingob, and other prominent figures from the public and private sectors.
Nangula Uaandja, the chief executive officer of the NIPDB, said Namibia continues to deepen collaboration with the EU to enable and catalyze sustainable investments and growth in the area of green hydrogen and critical raw materials, placing Namibia at the forefront of the green transition. "This forum is primarily anchored in the shared vision of creating linkages and partnerships that will enable Namibia to effectively leverage her resources not only to contribute towards decarbonization but to do so as an equal participant," she said.
Namibia has consistently maintained a positive trade balance with the EU, which is an important trading partner accounting for 21.6 percent of Namibia's exports and 13.6 percent of its imports. ■