The Ministry of Industrialization and Trade (MIT) has signed an agreement with Team Namibia to promote common goals such as industrialization, trade, economic development, and entrepreneurship in Namibia.
The MOU is aimed at establishing a framework for cooperation and collaboration between the two.
The Executive Director of the Ministry of Industrialization and Trade, Sikingo Haihambo, said that their mandate and goals are intertwined with those of Team Namibia and that the MOU could not have come at a better time.
MIT Executive Director Sikongo Haihambo also expressed optimism about the future and the potential impact the partnership will have on national development.
"This particular MOU intends to elevate the terms of cooperation between the two institutions. We hope this will contribute more towards achieving a national and industrialised economy through market access and promotion, export development, local sourcing initiatives, product certification and quality standards, support for small and medium enterprises (SMEs), and capacity building."
The board chairperson of Team Namibia, Sydney Hanstein, reflected on the longstanding informal relationship between the two entities as he highlighted the significance of formalising their collaboration.
He said this MOU will enhance their efforts to promote local production, support Namibian entrepreneurs, and encourage the public to support local businesses to boost employment and improve the economy.
"Our objectives are to promote local production. To really boost our producers and manufacturers. To create awareness in the public, especially in the Namibian space, among consumers. Although we have a lot of other products on our market, let's look at the Namibian product first. They might be a little more expensive because of the production cost, but by going into the shop or the retailer and choosing a Namibian product, we are enabling employment."
Hanstein added that despite challenges during the COVID pandemic, they have emerged stronger.
He expressed gratitude to MIT for the partnership, saying that he looks forward to a growing and fruitful relationship.