Daily News Online
   

Monday, 19 March 2012

Home

 | SHARE MARKET  | EXCHANGE RATE  | TRADING  | OTHER PUBLICATIONS   | ARCHIVES | 

dailynews
 ONLINE


OTHER PUBLICATIONS


OTHER LINKS

Marriage Proposals
Classified
Government Gazette

Namibia wants Lanka’s apparel expertise

Namibia, the world's fifth-largest producer of uranium, is keen to leverage Sri Lanka’s apparel and rice cultivation successes. “We are now starting to develop our apparel sector and the rice farming sector. We are eager for tech and know-how support from Sri Lanka given the country’s successes in them” said Samuel K. Mbambo, new High Commissioner of the Republic of Namibia to Colombo.

Mbambo revealed this to Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka when he made a courtesy call on Minister Bathiudeen in Colombo last week.


Minister of Industry and Commerce Rishad Bathiudeen
(right) discusses bilateral trade with Samuel K. Mbambo,
new High Commissioner of the Republic of Namibia to
Colombo

According to the Department of Commerce, the value of total trade between the two countries at US $ 0.07 million in 2006 , and increased to US $ 0.08 million. in 2010.

The balance of trade has been in favour of Sri Lanka except in 2006 and 2010. The $ 12 billion economy is projected to grow 4.4% in 2011. Tea and live fish are Sri Lanka’s main export items to Namibia.

“We invite Namibian businesses and industries to invest in the new economic resurgence in Sri Lanka. Thanks to our President Mahinda Rajapaksa’s leadership, we are now past a three decades of war and have entered the new economic upswing. Our growth forecast for 2012 is 7.2%, a very high rate in the current recession climate. The low trade between both Sri Lanka and Namibia show that there’s enormous untapped bilateral trade potential between us and I believe that time has come to renew our trade ties” Minister Bathiudeen said.

“We can assist Namibia to gain the essential skills in apparels and paddy cultivation” said Minister Bathiudeen. “Our paddy cultivation has a historic background with Sri Lanka’s staple food being rice and our ancient farmers were producing special rice variants for use by our former Kings. Our paddy is harvested in two different cycles every year we are self-sufficient in rice with a self-sufficiency rate of 112%.

"The 2011 paddy production is estimated at 90 million bushels. We can help Namibia with regard to pre and post harvesting technologies and also irrigation methods focused on water conservation” Minister Bathiudeen said.

“As for apparels, I am pleased to say that we are the world’s first ethical apparel sourcing destination. In 2011 December alone, our apparel exports in all forms stood at $ 369.4 million with an annual total export value for the same year at $ 4039 million. Our apparels now supply to top international labels such as top labels as Marks & Spencer, Victoria's Secret, House of Frazer, Diesel, H&M and SUZI Chin. We believe that Namibia can also leverage our apparel know-how and we are ready to assist in this regard too” Minister Bathiudeen said and added: “We are also keen to tap Namibia’s mining know-how. I am pleased to observe that Namibia encouraging its rare metal exports in raw form.”

“Namibian economy is structured mainly on mining which is about 25% of our revenues.

"The industries and farming sector, which are the next important sectors, needs to be upgraded and expanded. We are looking for international expertise apparels and rice farming to diversify these sectors. We believe Sri Lanka can help us in this” Mbambo said. “And we also like Sri Lanka’s economic and political stability which encourages us to forge new trade relations” he added.

EMAIL |   PRINTABLE VIEW | FEEDBACK

Sri Lankan Wedding Magazine online
www.defence.lk
Donate Now | defence.lk
www.apiwenuwenapi.co.uk
LANKAPUVATH - National News Agency of Sri Lanka
www.army.lk
Telecommunications Regulatory Commission of Sri Lanka (TRCSL)
www.news.lk

| News | Editorial | Business | Features | Political | Security | Sport | World | Letters | Obituaries |

Produced by Lake House Copyright © 2012 The Associated Newspapers of Ceylon Ltd.

Comments and suggestions to : Web Editor