India Africa Trade Council opens office in Chennai
The African markets will be given top priorities in developing trade with Indian businesses to continue to intensify and deepen engagement across the continent, said a senior Indian official at the inauguration of the India Africa Trade Council in Chennai on 21 Jan 2021.
“Africa will be at the top of our priorities as per the Prime Minister’s Vision, through the council we will continue to intensify and deepen our engagement with Africa which will be sustained and regular. Our development partnerships will be guided by Africa’s priorities,” said the President of the Indian Economic Trade Organization (IETO) Dr. Asif Iqbal during the Inauguration.
“We will build as much local capacity and create as many local opportunities as possible. We will bring the South Indian market closer and make it easier and more attractive to trade with Africa,” he said, adding “We will support our Industries to collaborate with African companies.”
“My goal is to build stronger multilateral relations and reach new heights between Tamil Nadu companies and the African region which is a huge market and I will be focussing on the COMESA (Common Markets for Eastern and Southern Africa) region that comprises 19 countries especially South and East Africa with a huge NRI population,” stressed B. Ramakrishan, Founder of Corporate Clinic in Chennai who is appointed as the Director of the India Africa Trade Council.
“We will explore the opportunities in a structured manner before the Africa Free Trade Zone is started,” said Ramakrishan.
There was also a round table meeting that has been organized by the council in Chennai with participation from Indian companies doing business in Africa.
A 30-member delegation from South India of the India Africa Trade Council will visit COMESA region of Ethiopia, Djibouti, Zimbabwe, Botswana and Namibia in the month of April 2021 and various MOUs in Health sector, Skill development, Agriculture are expected to be signed with various companies and organizations in this region.
The following program are planned for the India Africa Trade Council:
• Establish the India Africa Film Commission for identifying opportunities in Film shootings for Bollywood and South India film Industry by Wali Kashvi.
• Meetings to discuss the possible collaboration and purchase of 500 cars for Djibouti from Tata Motors.
• Monthly Round Table to be conducted with focus on different countries of Africa every month in Chennai with the support of Embassies in New Delhi for better cooperation which will be chaired by joint meeting of entrepreneurs and Embassy
• Launching of Africa Special Economic Zone in Kolar on 100 acres land parcel for collaboration with Africa companies.
Africa is keen to improve its multilateral relations with India especially in the area of capacity building with organizations like COMESA, ECOWAS, WAEMU, SADC and SAHEL.
The Indian Government extends Credit lines for African countries in areas of education, skill development, healthcare, agriculture while regular talks are held with African governments.
“Ethiopia’s relations with India date back several centuries and its relationship with India is directed by the historicity of their interactions – the century-old trade partnerships and socio-cultural linkages,” said the Ethiopian Ambassador Dr. Tizita Mulugeta Yimam after the council’s Chennai office.
“We want to elevate our ties to the next level. We want to elevate our bilateral partnership; we can come to an agreement that we can elevate it to the level of strategic partnership. We want to have a dynamic and fruitful dialogue on bilateral and regional levels,” said Dr. Yiman.
The Council will open 13 Trade offices in major Indian metro cities to facilitate Indian businessmen wanting to do trade in African countries. These offices are expected to work directly with embassies in Delhi and bring opportunities to places like Hyderabad, Chennai, Bangalore and Hyderabad. #exports #economy #investment #trade /fiinews.com
