The trade ministers of the five member states of the Southern African Customs Union (SACU) will convene on Thursday and Friday in Walvis Bay to discuss regional trade issues relating the world’s oldest customs union, the ministry of trade and industry announced. The meeting will be chaired by Namibia’s trade and industry minister, Jesaya Nyamu. Namibia is also hosting the SACU secretariat, which was established in January this year.

The second important topic to be deliberated on is the free trade area with the USA. South Africa, Namibia, Botswana, Lesotho and Swaziland launched negotiations with the USA towards a free trade agreement (FTA) in Pretoria, South Africa on June 2, 2003. United States Trade Representative Robert Zoellick will be present at the Walvis Bay meeting. Zoellick will also discuss AGOA, the African Growth and Opportunity Act of the US, which allows selected African countries, including Namibia, to export manufactured goods to the US. Passed in 2000, AGOA forged a new trade partnership between the United States and sub- Saharan Africa — granting duty-free access to the U.S. market for substantially all products of eligible countries and bringing new jobs and new investment to the region. AGOA has created new commercial opportunities for Africans. AGOA imports totalled US $14.1 billion in 2003.

SACU is the United States’ largest export market in sub-Saharan Africa, and this initiative represents an opportunity to build on the success of AGOA and create a comprehensive infrastructure for trade and investment that furthers regional growth and development and provides for a common economic future. It would be the first FTA in sub-Saharan Africa the USA is launching.

The NamPower Board of Directors declared a dividend of N$ 4 million and released its latest annual report at its annual general meeting held last Friday. The cheque was handed over to the sole shareholder, the government, according to a company statement. Including this payment, NamPower paid N$ 39.3 million in dividends over the last 5 years. In the financial year ending 30 June 2004, NamPower provided N$93 million to rural electrification and to commercial farm electrification projects. In addition several other million dollar projects, among them the 220 kV Walvis Bay interconnector were constructed at an amount of N$275 million, while the Rock substation near Ariamsvlei and the 126 kilometre 132 kV line from Harib to the Rock substation were constructed at an amount of N$45 million. The latter project is vital for the ongoing expansion of the grape farming business along the north bank of the Orange River.Over N$ 50 million was spent on new, smaller distribution lines during the year under review. Overall, more than 4000 kilometres of lines, smaller than 66 kV were added during this financial year, an average of 12 kilometres’ worth every day of the year. Across the Namibian borders, NamPower constructed the 132 kV lines Ruacana/Xangongo and Cahama in Angola. Seven towns, villages and settlements, under this project, in Quando Cubango and Cunene Provinces of Angola were connected to that power line this year. In the east, the 132 kV line from Omaere to Ghanzi, in Botswana, was completed successfully in October 2004, according to the annual report.