According to a report by Modern Ghana, the Deputy Trade Minister has emphasized the need for a stronger partnership between India and Africa to drive growth and sustainability. The minister highlighted the vast potential for cooperation between the two regions, citing the African Continental Free Trade Area (AfCFTA) as a significant opportunity for increased trade and investment.
The Deputy Trade Minister noted that India and Africa have a long history of cooperation, with India being one of the largest trading partners of Africa. However, the minister emphasized that there is still a significant gap between the potential and actual trade volumes between the two regions. To bridge this gap, the minister called for increased investment in infrastructure, trade facilitation, and capacity building.
The minister also highlighted the importance of sustainability in the partnership, emphasizing the need for environmentally friendly and socially responsible practices. The minister noted that Africa and India can learn from each other’s experiences in areas such as renewable energy, agriculture, and healthcare.
The partnership between India and Africa is expected to have a significant impact on the global economy. With a combined population of over 2.5 billion people, the two regions have a vast market for goods and services. The partnership is also expected to create new opportunities for investment, job creation, and economic growth.
To achieve this goal, the Deputy Trade Minister called for increased cooperation between governments, businesses, and civil society organizations. The minister emphasized the need for a coordinated approach to trade and investment, with a focus on mutual benefit and sustainable development.
Some of the key areas of cooperation identified by the minister include:
* Trade facilitation: Simplifying trade procedures and reducing barriers to trade
* Investment: Increasing investment in infrastructure, manufacturing, and services
* Capacity building: Building the skills and capacity of African businesses to compete in the global market
* Sustainability: Promoting environmentally friendly and socially responsible practices
Overall, the Deputy Trade Minister’s call for a stronger India-Africa partnership highlights the significant potential for cooperation between the two regions. With a focus on sustainability, trade facilitation, and investment, the partnership is expected to drive growth, create jobs, and improve living standards for millions of people in Africa and India.