India, African countries sign MoU on economic cooperation

Tuesday, 11 February 2003, 20:30 IST
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NEW DELHI: India and the Common Market for Eastern and Southern Africa (Comesa) Monday signed a memorandum of understanding (MoU) on enhancing economic cooperation. The agreement was signed following talks between External Affairs Minister Yashwant Sinha and his Mauritius counterpart Anil Kumarsingh Gayan, who is here at the head of a four-member Comesa delegation. Eastern and southern African nations were keen to enhance cooperation with India in pharmaceuticals, IT, agriculture and proposed joint ventures in agro-processing, biotechnology and World Trade Organisation (WTO) forums. More than 40 percent of India's total exports go these countries. The Comesa delegation also asked for India's assistance in dealing with the famine situation in southern Africa that has affected more then 1.5 million people. India is already giving food assistance to the countries of the region. It has given 10,000 tonnes of rice to Zambia, 50,000 tonnes to Zimbabwe, 10,000 tonnes of wheat to Ethiopia and 5,000 tonnes each to Eritrea and Malawi. Countries like Zimbabwe and Ethiopia sought more food assistance and also help in improving their agriculture and irrigation systems. Addressing an interactive session with Indian businessmen organised by the Confederation of Indian Industry (CII), the Mauritius minister said Comesa held great opportunities for Indian businesses. He said Africa today was poised for development and in spite of the political upheaval they had passed through, "the situation is now stabilising". He said the New Partnership for African Development (NEPAD) initiative looked at the African nations working closely together with the private sector. After the establishment of the free trade area (FTA) two years ago, nine eastern and southern African countries had witnessed a significant increase in trade and he hoped that soon all 20 nations would be members. He said Comesa was keen to develop and strengthen ties with India, especially in IT and agriculture.
Source: IANS
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