Business people from Namibia and Ethiopia have started scouting for opportunities in various sectors.
The two countries have currently no direct trade but are enjoying strong historical bilateral ties.
Namibia's Ambassador to Ethiopia, Emilia Mkusa, revealed this during an exclusive interview with nbc News.
Ethiopia has a market of more than 120 million people and a strong agricultural sector that accounts for 46% of its gross domestic product.
This has attracted interest from entrepreneurs in Namibia, particularly in flower production.
Ethiopians, on the other hand, are eyeing Namibia's fisheries sector and the fertile Kavango regions for its famous coffee plantations.
The Namibian diplomatic mission in Addis Ababa has been facilitating the exchanges, and Ambassador Mkusa described this as promising to jumpstart direct trade.
Namibian and Ethiopian governments currently have a number of agreements, including the bilateral air service, health, and the recently signed Memorandum of Understanding on Defense Cooperation.
The Namibian Embassy is now pushing for the Namibia Chamber of Commerce and Industry to link up with its Ethiopian counterparts and also to take advantage of direct flights by that country's airline.
The Namibia Chamber of Commerce and Industry is yet to pronounce itself on a possible chamber-to-chamber agreement.