INDIA TO OFFER DUTY-FREE ACCESS TO PRODUCTS FROM AFRICA

India's External Affairs minsiter outlines new measures to boost bi-lateral trade and investment ties with Africa

In an effort to boost trade ties with Africa, India is planning to provide duty-free access to products from the least developed countries of Africa. As a further measure to boost bi-lateral trade with African countries India also hosted its first summit with the African Union in April 2008 to put its traditional ties with the continent on a fast track.

"We expect to to boost our trade ties with African countries through the India-Africa Forum Summit," India's external affairs minister Pranab Mukherjee said. Stressing on the "civilizational, time-tested and unique" ties between the two sides, he said: "India is a dialogue partner of the African Union and will closely follow this evolving and step-by-step process. We will support all efforts that will bring sustainable peace, progress and stability in all the countries of Africa." Mukherjee said the cabinet has already approved the draft framework of a preferential trade agreement with the Southern African Customs Union (SACU).

India's trade with African countries has doubled from $5,493 million in 2001-02 to $11,822 million in 2005-06. Bilateral trade has further shot up to $18,538 million during April 2006-January 2007.

Africa is the largest recipient of India's technical and economic cooperation programme with an outlay of over a billion dollars. The Pan African e-network, being funded and built by India has further helped to improve trade among 53 countries of the African continent. During his visit to Ethiopia recently, Mukherje inaugurated pilot projects of the e-network relating to tele-education and tele-medicine. Mukherjee also sought African Union support for India's representation in an expanded UN Security Council.