WINDHOEK -- The Namibia Chamber of Commerce and Industry (NCCI) signed a Memorandum of Understanding (MoU) with the China Council for the Promotion of International Trade (CCPIT) on Tuesday which will result in the further development of trade and investment relations.

Under the MoU, the two countries will designate a special team which will coordinate cooperation and co-host various events, including dialogues between agencies and businesses.

Speaking at the signing ceremony, NCCI Director Esther Akwaake said that Namibia is looking forward to benefiting from the vast knowledge that their Chinese counterparts have.

The key areas that the two parties will be looking at expanding include agriculture, infrastructure and the renewable energy sector.

The MoU has a two-year term which will be automatically extended unless a request for amendment or termination is demanded by either of the two parties.