As the 2009 conclave between the India and the Africa marked the first logical step towards strengthening of mutualco-operation and reciprocity between the Asian nation and the African continent, furthering the move to propagate and build long term sustainable economic relations, the 2010 conclave has commenced at the Hotel Taj Palace from today. The two day conclave aims to renew and foster the economic momentum between the two sides and map out fresh avenues to scale up bilateral trade between India and Africa to $70 billion in the next five years.

Inaugurated by the External Affairs Minister S.M. Krishna the conclave began with the keynote of Mr. Krishna emphasizing over India’s financial commitments to Africa to catalyze greater trade and investment between the two sides.

‘We wish to make the positive emotive engagement between India and Africa into a successful economic engagement for mutual benenfit… We in the government of India remain committed to support our African partners and the Indian private sector to support these goals,” said Krishna.

Organized by the joint collaboration of the Export-Import Bank of India, the Confederation of Indian Industry (CII) and the commerce and external affairs ministries, is themed as “Developing Synergies: Creating a Vision” with four sub themes of partnership, rural economies, Africa tomorrow and going green that are guided by the objectives spelt at the 2008 summit. The conclave attended by Indian Minister of State for external Affairs Shashi Tharoor, Commerce Minister Anand Sharma and Planning Commission Member Arun Maira along with 380 African business and political leaders from 34 African countries, is said to address 145 business projects worth over $9 billion.

Krishna also highlighted the plans to create 10 vocational training institutions and five human settlement institutes in Africa in areas of diamond polishing, IT, vocational education and Pan-African Stock Exchange.

Source: sify

Image credits: topnews, sepiamutiny

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