Opportunities in the blue economy
The Nigerian Industry, Trade and Investment Minister Otunba Niyi Adebayo has invited Indian industry to invest in Nigeria which is undertaking a series of reforms to promote industrial development such as setting up of a one-stop investment centre, setting up of Special Economic Zones, creating policies to enable the diversification of the economy.
Supporting his call for Indian investment, the Minister highlighted that India was Nigeria’s largest trading partner while Nigeria was India’s largest trading partner in Africa.
Kenya’s Cabinet Secretary for Foreign Affairs Raychelle Awour Omamo took the African call further, encouraging the private sector in India to invest in Africa’s development.
The Kenyan Minister is of the view that the Indian industry could invest in critical areas of Africa’s need such as infrastructure and energy and help generate jobs for the youth as well as for women.
The Cabinet Secretary called for exploration of new areas of cooperation such as the blue economy and the financial sector.
She highlighted the old trading routes taken by dhows between India and Kenya and stated that India-Kenya relations have, for many centuries, been dominated by trade.
The India–Mauritius Comprehensive Economic Cooperation and Partnership Agreement could facilitate India-Africa cooperation through the African Continental Free Trade Area, added Mauritius Vice-Prime Minister Dr. Mohammad Anwar Husnoo.
He was of the view that some of the areas where Africa and India could cooperate on included pharmaceuticals, digital economy, solar energy and healthcare.
Congo Prime Minister Sylvestre Ilunga wants to changes in his country to create a more conducive environment for investment especially in areas such as agriculture, Agro-industry and tourism among others.
The African leaders presented their views and opinion on building businesses at the inaugural Session of the 15th CII–Exim Bank Digital Conclave on India–Africa Project Partnership on 22 Sept 2020. #trade #investment #solar #projects #investment #skill #technology #exports /fiinews.com
