Sunday - June 16,2019

Angola, Namibia push for improved cross-border trade

Angola, Namibia push for improved cross-border trade

During a visit to Luanda last week, NCCI’s Chief Executive Officer, Tarah Shaanika, held talks with his counterpart, Tiago Gomes, and exchanged views on making trading arrangements between the two countries more efficient. During the meeting, the two chambers agreed that cross-border trade between Angola and Namibia needed significant improvement, especially the level of efficiency in moving goods from one country to the other. It was noted that the process of clearing goods at the borders on both sides needed to be accelerated so that the turnaround time for trucks carrying goods from Namibia into Angola and vice versa is reduced to competitive levels.

The two chambers therefore agreed to engage stakeholders to identify bottlenecks in the customs clearing processes and reduce unnecessary bureaucracy, which delay the export of goods between the two countries. NCCI and CCIA will engage the governments of Namibia and Angola, respectively, to address bureaucratic hurdles hampering cross-border trade between the two countries.

The meeting commended the central banks of Angola and Namibia for signing a currency exchange agreement, which allows the Angolan Kwanza to be accepted by Namibian banks at Oshikango and the Namibia Dollar to be accepted by Angolan banks at Santa Clara. This agreement, which is expected to be implemented in March 2015, will be very crucial in the facilitation of trade between Namibia and Angola through the Oshikango/Santa Clara border post.

Source: New Era