Patel assures India’s full cooperation in transformation of Gabon economy
Fifty-four Indian companies have set up manufacturing units in various sectors like pharma, timber, mining, steel and food processing in the Gabon Special Economic Zone (GSEZ), the African state’s Minister of State for Industry Pacome Moubelet-Boubeya told his Indian counterpart.
Further, he apprised the Minister of State for Commerce and Industry Anupriya Patel about the investment opportunities in Gabon, especially in the GSEZ during a meeting held in New Delhi on 20 July 2022.
Responding, Patel has underlined the need for diversification of trade basket, deeper cooperation in bilateral investment and skill development in key sectors.
Minister Moubelet-Boubeya was on a two-day visit to New Delhi and attended the 17th CII-EXIM Bank Conclave on India-Africa Growth Partnership.
While expressing satisfaction upon the growing bilateral trade which had crossed US$1.2 billion in 2021-22 despite the pandemic, the two Ministers acknowledged the need for diversification of trade basket and deeper cooperation in bilateral investment.
They also held forward looking and productive discussions covering the entire gamut of bilateral trade, commerce, economic and investment ties between the two countries.
The discussions included active economic engagement and identified new areas for cooperation, particularly in mining, defence, agriculture, healthcare, pharmaceuticals and renewable energy.
Both sides noted the need for cooperation in skill development and training as well as capacity building in key sectors, including quality standards, said the Ministry of Commerce and Industry.
Patel appreciated the “Emergent Gabon Vision 2025” plan and assured India’s full cooperation in Gabon’s transformation and diversification of its economy.
She also appreciated the joint efforts of India and Africa Group at the recent WTO Ministerial Conference held in Geneva.
Both Ministers have agreed to continue cooperation at various multilateral organisations, including the UN and the WTO, said the Ministry. fiinews.com
