India-Africa Meeting To Look For New Joint Business Opportunities

India-Africa Meeting To Look For New Joint Business Opportunities

India and several countries in Africa are sitting down to talks about food security, steps for enhancing trade and increasing cooperation in sectors such as infrastructure.

“From India, Commerce and Industry Minister Anand Sharma will attend the third India-Africa Trade Ministers meeting and India-Africa Business Council (IABC) meeting,” reports Zee News.

African Union Commission Chairperson Nkosazana Diamini-Zuma and South African Trade and Industry Minister Rob Davies, trade ministers and officials from nations like Kenya, Malawi and Chad are to participate in the day-long meeting.

Also Indian and African businessmen from sectors like telecommunications, healthcare and aviation will discuss various issues related with increasing investments between the two regions.

“The trade ministers shall exchange views on the ongoing negotiations, the issues on the agenda of the Ministerial Conference and how to safeguard the interests of developing nations,” an official said. “For countries of Asia and Africa, food security is crucial. Currently, there is very little in the existing trade rules to squarely address the issue. Updation of rules of Agreement on Agriculture would greatly help in carrying out these operations without defaulting on international commitments.”

India-Africa trade has crossed $ 70 billion in 2012 and is expected to reach $100 billion by 2015, reports Zee News.