China's ambassador to Namibia, Zhao Weiping, believes there is great potential for the development of relations between China and Namibia.

"We can do a lot more by working together. As friends, China and Namibia will continue to help and support each other, and both sides will benefit more from this fruitful partnership," Zhao said during his media engagement on Tuesday.

In the areas of trade and economic cooperation, China continues to be the largest source of investment for Namibia, as well as its second-largest trading partner.

Ambassador Zhao said in 2023, bilateral trade volumes exceeded USD1.3 billion for the first time. Also, China's direct investment in Namibia accounts for 29.6% of the total foreign direct investment Namibia has received.

He said there are currently over 50 Chinese enterprises investing and operating in Namibia, including the Husab and Rössing Uranium mines, which are doing very well.

The construction of the Lithium Processing Plant of Xingfeng Company has been completed, and is expected to start production late this year.

"As you may already know, Chinese companies are proceeding with acquiring Twin Hills gold mine and the Tsumeb smelter in Namibia. Since the beginning of this year, an increasing number of Chinese companies have approached the embassy, and expressed their interest in seeking investment opportunities in Namibia," he said. Ambassador Zhao further stated that he is eager for Namibia to participate in this year's Summit of the China-Africa Cooperation Forum.

"We can also expect to see more tangible results in the friendly exchanges and practical cooperation in various fields, especially as both sides are discussing a series of new development assistance projects which will benefit the Namibian people in the areas of drought relief, agricultural development, educational infrastructure, vocational training and other areas concerning the well-being of the Namibian people," he said. -Nampa