Medvedev visit watershed for Namibia?s energy and trade
Thursday, 18 June 2009 10:25
RUSSIAN Ambassador to Namibia, Nikolai Gribkov, said the forthcoming visit of Russian President, Dmitry Medvedev, to Namibia provides an ideal opportunity for the two countries to transform their political cooperation into strong economic and trade ties.
NAMIBIA’s prospects of oil and gas has attracted several local and international companies’ interest, with a total of 12 currently hard at work onshore and offshore to uncover what could be one of the world’s largest oil deposits.
NAMIBIA could lose billions of dollars as a result of its refusal to sign the Economic Partnership Agreement (EPA) with the European Union, and could lose more revenues if South Africa implements its recent threats to leave the Southern Africa Customs Union (SACU).