Namibia must take proactive and strategic steps by prioritising infrastructure development, innovation and boosting competitiveness, in order to fully capitalise on the advantages of the African Continental Free Trade Agreement (AfCFTA).

These were the sentiments of Deputy Minister of International Relations and Cooperation, Jenelly Matundu, at the opening of the 19th Theo-Ben Gurirab Lecture Series in Swakopmund on Thursday.

According to Matundu, these efforts will enable Namibia to be positioned as a pivotal centre for trade and investment, drawing interest from both local and global stakeholders.

“As we aspire for the Erongo Region to emerge as the preferred gateway to Africa and the global stage, let us explore how the AfCFTA can positively impact our region and elevate us to greater levels of prosperity and prominence. For Namibia, the AfCFTA presents a plethora of advantages that can transform our economic landscape and by signing the AfCFTA, Namibia has unlocked access to a market of 1.3 billion people, which means that our businesses, both large and small, can expand their reach beyond our borders, tapping into a larger consumer base and creating new avenues for growth,” she said.

This, according to the deputy minister, is an added advantage to the Erongo Region as it holds a pivotal position within the African continent, with access to major ports and transportation networks, serving as a natural conduit between the landlocked countries of Southern Africa and the global markets.

The objective of the AfCFTA is to establish a unified market and a collective Gross Domestic Product for the entire continent, eradicate trade obstacles, and stimulate intra-African trade.

It also aims to promote value-added production and trade across all service sectors in the African economy.

The 19th lecture series was held under the theme, ‘How can the AfCFTA benefit the Erongo Region to be the preferred gateway to Africa and the World at large’.

The theme focused on the significant possibilities presented by the AfCFTA for Erongo and explored the transformative impact it can have on the region, positioning it as a preferred gateway to Africa and the rest of the world.

Source: The Namibian Press Agency