India on Monday called for greater co-operation with Africa, saying the potential for bilateral trade between the two was more than what is reflected by existing trade levels.
External affairs minister Pranab Mukherjee at the inaugural session of the India-Africa Business Partnership summit, called on the India and African partners to step up not only their business engagements but also to cooperate in fighting piracy off the Somalian coast.
At the summit organised under the aegis of Ficci, the external affairs and the commerce ministries, the minister said it was India?s desire to enhance co-operation and dialogue with African nations on ??crucial global concerns?? including ??jihadi terrorism and marine piracy??.
??It is our desire that on crucial global concerns like climate change, food and energy security, health, jihadis terrorism, marine piracy and democratisation of global institutions we continue to enhance our cooperation and dialogue,?? he said.
??Existing trade and investment levels do not reflect the true potential. Our commitment to Africa is total and we look forward to a close partnership with Africa in its economic resurgence.?? Mukherjee also announced India will be doubling its line of credit to Africa to $5.4 billion for the five-year period beginning 2008-09 and provide $500 million over the next five to six years for projects in critical areas.
While admitting that India will not be able to escape the global financial slowdown, but, he added that its economic fundamentals being strong, the country’s growth was an opportunity for mutual gains with ??our African associates??.
