Senior trade officials from China and Namibia agreed in Beijing Tuesday to inspire corporate investment in both countries.

Both sides agreed that their governments will encourage local companies to invest in mining, fishing, agriculture, telecommunications, infrastructure and other key cooperative areas in the other country, according to a news release from the Chinese Ministry of Commerce.

The China-Namibia Economic and Trade Mixed Committee convened its first session in Beijing Tuesday afternoon.

The meeting was co-presided by Chinese Vice Minister of Commerce Wei Jianguo and Namibian Minister of Trade and Industry Immanuel Ngatjizeko.

Attendants included such illustrious figures as Helmut Angula, director-general of the Namibian National Planning Commission, and Minister of Engineering, Transport and Telecommunications Joel Kaapanda, as well as executives from some Namibian companies and representatives from the Import and Export Bank of China.

The trade session was held during the visit of Namibian President Hifikepunye Pohamba, who is paying a state visit to China from Dec. 16 to 20.

The trade and economic officials of China and Namibia discussed such topics as expanding bilateral trade, facilitating the exports of Namibian products to China, training Namibian personnel, promoting investment and deepening cooperation in a multilateral arena.

Both sides have set forth suggestions on stepping up bilateral cooperation on the basis of reviewing the development of trade and economic cooperation in recent years, according to the Chinese Ministry of Commerce.

Upon the conclusion of the meeting, Wei and Ngatjizeko signed the memorandum of the first session of the China-Namibia Economic and Trade Mixed Committee.

The mixed committee was established in 2004.

China and Namibia have signed agreements on trade and investment protection in recent years.

On Monday, China and Namibia signed a number of new cooperative documents, including the agreement on economic and technological cooperation.

According to Chinese official figures, two-way trade reached 96.93 million US dollars in the first nine months of this year, growing 32.2 percent over the same period of last year.

Source: Xinhua