Thursday , May 23 2024

Geingob invites Russia to invest in the country’ uranium

Russia has intentions to strengthen its bilateral relation with Namibia and increase wheat trade between the two countries.

“Russia has always been clear in its desire for stronger trade with Namibia but this appears not to have been realised to its full potential.

“In May of this year, trade between Namibia and Russia was described as ‘unimpressive’ by Trutnev during an official visit to Namibia,” said embassy of the Russian Federation in Namibia.

Trutnev, Russia’s deputy prime minister wants trade between the two countries to improve.

Historically, Russia and Namibia have shared good relations which stem as far back as the liberation struggl

Russia believes has much to offer Namibia in terms of trade and other exchanges, which include expertise in engineering and medical research recognised as world

President Hage Geingob welcomed an expansion in both trade and cooperation with Russia, and invited investors from that country to invest in the local uranium industry, saying Namibia has nuclear energy potential.

“Government will be willing to facilitate. We will be willing to see how we can also benefit from that. The doors are open. We have of the highest uranium resources in the world. We need someone who needs this resource, adds value to it and can use it,” said Geingob.

Namibia’s dependency on imported energy and the excessively high costs associated with importing the electricity have recently been highlighted in the local media.

Russia, is a world leader in nuclear energy would be keen to invest into Namibia in this regard, the embassy said.

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