Medvedev to discuss Russian investment in Namibia

MOSCOW, June 24 (RIA Novosti) - Russia's president will arrive in Namibia on Thursday to discuss increasing trade turnover and expanding Russian investment, particularly through participation in large projects.

Dmitry Medvedev and his Namibian counterpart, Hifikepunye Pohamba, will discuss cooperation in prospecting and developing mineral deposits, energy, transport and tourism.

Russian presidential aide Sergei Prikhodko said Wednesday that Medvedev's two-day visit was the first for a Russian president.

Medvedev and Pohamba are expected to sign documents related to investment, fisheries and the power industry.

The Kremlin has said the two sides could also touch upon the global financial crisis as well as global energy security.

Prikhodko said Namibia is short of energy resources, importing almost all its electricity from South Africa, and is considering which power sector it should develop - hydropower or nuclear.

"We are ready to cooperate in both spheres, and we will talk about it," the aide said.

Prikhodko lamented that bilateral turnover in 2008 was $6.35 million, saying "the state of affairs in the sphere is clearly out of line with the available opportunities."

He also said that Russian business circles have lately been showing more interest in entering Namibia's promising market. The country is rich in natural resources, including diamonds, uranium, coal, lead, zinc, copper, tin, manganese, silver, gold, and natural gas.