New Delhi – India and Africa on Monday emphasised the need for both parties to promote value addition to bilateral relations to enhance sustained mutual benefits between both parties.
The need for value addition topped the agenda of the 11th Confederation of Indian Industries (CII) and Export Import Bank (EXIM) of India Conclave on India-Africa Project Partnership holding in New Delhi.
In his address, Mr Okechukwu Enelamah, Minister of Industry, Trade and Investment, explained that it was beneficial for both parties to review previous cooperation to enable them concretise existing agreements.
“On 29th October 2015 African leaders from 52 countries gathered for the 3rd India-African Summit.
“A number of decisions were taken which were encapsulated in two documents; the Delhi Declaration and the India Africa Framework for Strategic Cooperation.
“I wish to express our gratitude to the Prime Minister of India for the announcement he made regarding the new 10 billion dollars line of credit, the 600 million dollars grant, the 100 million dollars for India-Africa Development Fund and the health fund of 10 million dollars.
“As the two sides begin the task of elaborating a comprehensive programme of action on the basis of the Delhi Declaration and the India Africa Framework for Strategic Cooperation and accompanying initiatives, the starting point must be a critical examination of the previous commitments especially the execution of the various projects and programmes under the line of credit granted from 2008 to date.
“This is with a view of identifying which ones to drop and which to roll over into the new arrangements.
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“The significance of our conclave here today lies therefore in the opportunity it provides to examine the direction of the partnership and collaboration that we seek to achieve with the new initiatives.
He also called on the private sector and civil society on both sides to work in partnership with the government adding that their participation would “give concrete expression to the vision of the leaders”.
Enelamah called on India to take advantage of the opportunities that existed in the various sectors in Nigeria and assured of an enabling environment for the economic growth of both sides.
“Nigeria cherishes its relations with the government and people of India; it is our strong desire to deepen and widen these relations in the years to come.
“We wish to encourage people-to-people contacts including the liberalisation of visa regimes between the two countries.
“Our economic measures, aimed at the creation of jobs and poverty alleviation, include increased focus on agricultural production, the rejuvenation of moribund industries and the establishment of news ones as well as the development of infrastructure.
“These sectors are yearning for foreign direct investment. I therefore urge Indian investors to explore the opportunities they provide to the fullest,” he said.
In his address, India’s Minister of State for External Affairs Vijay Singh said that enhanced mutual cooperation between India and Africa was important to the relationship shared by both parties.
He recalled that bilateral trade between India and Africa doubled from 30 billion dollars in 2008 to 72 billion dollars in 2015 adding that there was still more to be done to enhance trade between both parties.
“Bilateral trade between India and Africa doubled from 30 billion dollars in 2008 to 72 billion dollars in 2015 but this is still very less.
“We feel that the economic resurgence of Africa is beneficial for the economic resurgence of India.
“In this conclave, we will be able to take some decisions which will help in utilising what was set up by the Heads of Governments and State when they came for the India-Africa summit.
“It is for you as representatives who are attending this conclave to identify what you want to do in terms of cooperation with us.
“We are also looking to work in areas of sustainable development, clean energy and climate resilient agriculture.
“Our focus is to jointly implement these initiatives and realise the targets through joint efforts and collaboration.’’
Singh called on all parties to enhance coordination where necessary to ensure that processes that would impede the implementation of agreements do not arise.
“There is a great scope in many fields that exist and it is for us to ensure that we make use of it.
“This is because when we cooperate and set up things, it leads to a generation of employment; that is what makes a country strong and that is how to ensure that peace remains in a country,” he said.
The News Agency of Nigeria (NAN) correspondent covering the meeting reports that participants at the two-day business conclave include the Vice Presidents of Ghana and South Sudan.
Others include 23 ministers from Africa, more than 400 delegates from 37 African countries and more than 400 delegates from India.
Highlights of the inaugural session included the release of the EXIM Bank report on “Focus Africa: Enhancing India’s Engagement with Southern African Development Community” and a background report on India-Africa Project Partnership. (NAN)