Namibia is well-positioned to capitalise on the European Union's regulatory frameworks to boost its global economic standing, particularly through initiatives such as the Carbon Border Adjustment Mechanism, the EU Corporate Sustainability Due Diligence Directive, and the EU Deforestation Regulation.
The two-day Namibia-EU Trade and Sustainability Conference will serve as a key platform for discussing the implications of the EU regulatory frameworks.
The EU frameworks provide Namibia with significant opportunities to enhance its global economic standing by promoting sustainable practices across various sectors.
By aligning with the EU standards, Namibia can focus on investing in skills development, improving transparency in supply chains, and ensuring that its industries comply with international best practices.
This approach will not only strengthen export competitiveness but also foster ethical business operations, positioning Namibia favourably in the global market.
"The CBAM encourages our industries to adopt low-carbon practices, which not only aligns with our low-carbon economy goals but also enhances the appeal of Namibian exports in environmentally-conscious markets. The EUCSDDD reinforces ethical and transparent practices across supply chains, promoting human rights, environmental protection, and fair labour practices within our industries. The EUDR supports Namibia's efforts to combat deforestation, helping us protect our ecosystems and maintain market access to the EU by ensuring our forests." said Trade and Industrialisation Minister, Lucia Iipumbu.
Namibia can strategically leverage the European Union's Carbon Border Adjustment Mechanism as it moves towards green industrialisation by gaining a competitive advantage in exporting to the EU.
As the EU scales up the share of renewable energies in its energy mix, notably green hydrogen, European companies are compelled to seek new reliable sources of green hydrogen.
"By seizing these opportunities, Namibia can attract investment, access new markets, and position itself as a global leader in green industrialization. The hydrogen value chain presents Namibia with the chance to benefit from its renewable energy resources and leverage its wealth of critical raw materials," said Ana Martins, EU Ambassador to Namibia.
The two-day conference will feature targeted sessions designed to help Namibian stakeholders better understand these regulatory frameworks, promote sector-specific action planning, and reinforce collaborative efforts with the EU towards sustainable development.