India-Namibia Trade Ties Gain Momentum

CNB WORLD TIMES

The Fourth Session of the India-Namibia Joint Trade Committee (JTC) was held in New Delhi on August 10-11, 2026, focusing on expanding bilateral trade, investment and economic cooperation.

The two countries signed the Agreed Minutes of the session on August 11. Both sides agreed to move trade beyond raw materials and promote value addition, investment and local employment in Namibia.

Key Highlights

·         Bilateral trade increased to USD 592.94 million in 2025-26, from USD 568.40 million in 2024-25. India's exports stood at USD 349.09 million, while imports were USD 243.85 million.

·         Trade in services grew by 7.34% to USD 380 million in 2024.

·         India's engineering exports to Namibia rose by 124.06% to USD 30.24 million.

·         Exports of pharmaceuticals and medical devices reached USD 36.50 million, making India Namibia's second-largest pharmaceutical source.

·         Invest India and the Namibia Investment Promotion and Development Board were designated as investment focal points.

·         A new Services Working Group will be constituted by February 2027.

·         Cooperation in health and pharmaceuticals will be strengthened through a Joint Working Group, with the Janaushadhi cooperation agreement also nearing finalisation.

·         Both sides identified opportunities in critical minerals, including lithium, graphite, copper, cobalt and rare earth elements.

·         Cooperation will also cover digital payments, energy, railways, renewable energy, green hydrogen, biofuels and desalination.

·         The India-SACU Preferential Trade Agreement (PTA) Terms of Reference were finalised, with negotiations expected to begin after signing.

The JTC also discussed cooperation in agriculture, food security, MSMEs, textiles, tourism and sports. The Fifth Session of the JTC is scheduled to be held in Namibia in 2028.