May 23, 2019 (Euclid Infotech Ltd via COMTEX) --
The export of Far Eastern products was discussed at the meeting of the Deputy Chairman of the Government of the Russian Federation - Presidential Plenipotentiary in the Far Eastern Federal District Yury Trutnev with the Director General of MKR Capital Mikhail Krylov and the marketing director of Walvis Bay Corridor Group Hashila Sindi Lou
Tomorrow the eighth meeting of the Intergovernmental Russian-Namibian Commission on Trade and Economic Cooperation will be held. I will report to the chairman of the Namibian part of the Commission. Deputy Prime Minister, Minister of International Relations and Cooperation of the Republic of Namibia Netumbo Nandi-Ndaytva about the work we are doing. I note that a significant part of the growth in commodity turnover falls on agricultural products. We need to further develop this cooperation, noted Yuri Trutnev.
The meeting discussed the prospects of exporting high-quality rice, as well as the construction of a transport and logistics complex to supply rice to Namibia and the SADC countries. The MKP Capital company together with Sojits implements a project in the Primorye Territory for the cultivation and processing of rice, soybeans and rapeseed. The crop rotation can be up to 10 thousand hectares. African countries, in particular the Republic of Namibia, are promising markets for these products. According to Yury Trutnev, this project could have a significant impact on strengthening cooperation between the Russian Federation and the Republic of Namibia.
The project is supported by the Far East Agency for Attracting Investments and Export Support (ANO API). The project is designed for packing about 100,000 tons of cereals per year and will allow for a significant increase in trade between our countries. MKP Capital plans to create packaging production in the free economic zone of the Walvis Bay port to ensure the competitiveness of products in this region. The possibility of synergy of this project with the Namibian company Kaptau Packing in terms of the use of their packaging is being considered, said Leonid Petukhov, General Director of ANO API.
Africa as a region with a population of over 1.2 billion people is one of the largest consumers of food. The proposed change in the structure of consumption towards quality products poses new challenges for companies that want to work in this market. At the same time, only the physical presence of the company in the region can allow products from Russia to occupy a significant share in the African market. This is the basis of the MKP Capital work strategy in this region, commented Krylov Mikhail, General Director of MKP Capital.
The Walvis Bay Corridor Group discussed the issue of logistics of rice supplies from the Far East to Namibia. We are ready to organize meetings from the point of view of the transport component and are ready to do everything for the successful implementation of the project, Hashila Sindi-Lou explained.
Walvis Bay Corridor Group is a Namibian public-private partnership established in 2000 to increase the load on the Walvis Bay transport corridors and develop their infrastructure. Members of the Walvis Bay Corridor Group are: Namibia Freight Forwarders Association (NAFF), Namibia Road Carriers Association (NAMROAD), Namibia Port Authority (Namport), Walvis Bay Bay User Association (WBPUA), TransNamib Holdings, Chamber of Commerce (NCCI), Namibian Ministry of Finance, Namibian Customs Department, Namibian Ministry of Commerce, etc.
SOURCE: Futures Tradingcharts.com