Namibia and Russia have emphasised the need to strengthen economic and trade ties amid growing bilateral trade and cooperation.
This was revealed during the opening of the Namibia-Russia Business Forum in the capital today.
Namibia exported fisheries products worth over N$60 million to Russia in 2024, along with grapes and dates valued at about N$24 million.
Imports from Russia mainly consisted of fertilisers and cereals, valued at N$230 million, supporting Namibia's agricultural production.
Bilateral trade stood at around N$660 million in imports and N$200 million in exports.
Namibia is looking to grow investment, diversify its trade basket, and strengthen cooperation in research and skills development.
International Relations and Trade Minister Selma Ashipala-Musavyi highlighted the importance of strategic investment, private sector collaboration and agricultural technology to expand trade between the two countries.
"The good news is that this skewed trade relationship presents meaningful opportunities to deepen cooperation and trade, particularly through expanding Namibia's export basket, enhancing value addition in key sectors, and promoting greater investment partnerships that can contribute to sustainable economic growth and mutual prosperity for both countries."
Russian Deputy Prime Minister Yury Trutnev pointed out the need to boost economic ties with Namibia, proposing the expansion of cooperation in key sectors.
These are energy, high technologies, mining, petrochemicals, IT, finance, and agriculture, while affirming ongoing Russian support for Namibia in education.
"At present, 212 people from Namibia are getting an education in the universities of the Russian Federation, and we are prepared and will be pleased to continue and expand that cooperation in this sphere in the future. The project, which will be done in Africa through our joint efforts, will be supported by the Foreign Economic Bank and is prepared to be very attractive for investors. I want to emphasise that developing contacts in this area not only provides a strong foundation for economic relations but also fosters friendship between our countries and their governments."
The Namibia-Russia Business Forum will foster new joint ventures, boost international exposure for Namibian firms and identify investment projects that match Namibia's development goals.