The Namibia Trade Policy should counter the high unemployment rate by being the driver of job creation and economic development, Chief of Inclusive Industrialisation of the Sub-Regional Office for Southern Africa, Olayinka Bandele has said.
Bandele during the validation workshop on the draft trade policy document in the capital on Monday explained that trade is an important key for economic development and a driver for job creation in the country.
“Trade is a critical driver for economic growth and development and job creation that can enhance the current living conditions in the country,” Bandele said.
She added that a well-crafted trade policy for Namibia, which employs the appropriate tools and policy instruments, for trading goods and services, can help the country deal with high inequality, high unemployment, and high poverty in Namibia.
The Validation of the Namibia Trade Policy follows the consolidation workshop on 10 March 2023.
The trade policy aims to build a diversified competitive trade sector to stimulate higher rates of growth, and employment and reduce inequality and poverty.
Also attending the workshop was independent consultant Paul Kalenga, who said that one of the biggest challenges faced in the trading industry is the lack of data.
“Data is still a challenge. We need to come up with policies and strategies to assist in the issue of data,” Kalenga said.
He continued to say that the smallness of the domestic market makes it difficult for businesses to survive and that these concerns and more would be discussed during the workshop.
Source: The Namibian Press Agency