The Business and Intellectual Property Authority (BIPA), in consultation with the Ministry of Trade and Industrialization, has extended its annual duty penalty waiver.

Minister Lucia Iipumbu, during her ministerial statement in the National Assembly, announced that the programme that was supposed to end on March 31 will be extended by three more months to June 30.

This programme applies to eligible registered business entities that have accumulated penalties due to not paying their annual duties on time.

Namibia's exports to Japan are notably lower than its imports, as disclosed by the Minister of Trade, Lucia Iipumbu.

Exports amounted to N$90 million, while imports reached N$1.4 billion.

It is against this background that Namibia and Japan signed various agreements, including one to improve the balance of trade.

A number of sectors have been identified, which could culminate in a possible joint commission of cooperation between the two countries.