21
Oct
A vibrant India and a vibrant Africa will forge a partnership of equals whose roadmap for cooperation across political, economic and security spheres will be launched at the third Indo-Africa summit here on October 29, suggested Hatem Tageldin, Ambassador of Egypt, one of Delhi’s key and historical partners in the continent.
With several heads of state or governments including a top level political representative from Egypt set to visit India for the grand show this edition of the Summit will promote South-South cooperation between the developing countries many of whose economies are showing promises of growth, noted Tageldin with less than three weeks left for the Summit. Almost all 54 African countries will be represented at the Summit.
“India and Africa promises opportunity for each other. While India is assisting African citizens with capacity building, skills development, IT training programmes, the continent has emerged as a market for Indian investments. India and Egypt can jointly promote Indian business in Africa. In fact Egypt under its new investment law can be the hub of Indian investments in the continent by offering tax incentives and extremely liberal custom duties. Our country can be gateway to a market of millions of inhabitants in the continent,” Tageldin told ET in an exclusive interview. Egypt is India’s largest trading partner in Africa with volume of $5 billion with a promise of touching $8 billion by end of 2016. Indian investments in Egypt have touched three billion USD and more big-ticket investments are in pipeline.
The Ambassador indicated that the Summit is expected to see conclusion of two major documents – Framework for Cooperation and New Delhi Declaration. The New Delhi declaration will deal with common Indo-African positions on multilateral issues including Agenda for 2030 sustainable development goals, Climate Change challenges, transfer of technology issues and elimination of poverty besides security challenges posted by trans-national terror and extremist groups. The two entities are also working to create a mechanism for follow-up on decisions reached at the Oct 29 Summit, hinted the envoy.
Delhi and Cairo, founder members of the Non-Aligned Movement and two civilizational partners, have witnessed an upsurge in ties in last few months with the visits of External Affairs Minister Sushma Swaraj and Deputy NSA Arvind Gupta to Egypt amonge others. The first meeting between PM Modi and President Al Sisi in New York last month represents a new momentum in bilateral relations.The two countries are working on a robust security and counter terrorism cooperation to fight common security challenges, noted Tageldin without divulging details. He also hailed India’s assistance in evacuating Egyptian nationals from Yemen as well as in delivering the Egyptian relief to earthquake hit Nepal. India and Egypt will also hold a separate business council meeting later this month here ahead of Indo-Africa Summit. Meanwhile India-Africa are holding meeting of Trade Ministers on 23rd October and business Forum meeting on Oct 28.