Sudan to strengthen trade and investment ties with India
July 20, 2022 (NEW DELHI) – Sudan and India agreed on Wednesday to strengthen trade and diversify economic linkages between both countries.
This followed a meeting between the Sudanese Minister of Trade and Supply, Amal Salih Saad Mohamed and the Union Minister of State for Commerce and Industry Anupriya Patel in the Indian capital, New Delhi.
The two leaders, according to media reports, also reviewed issues related to trade and investment between Sudan and the South Asian country.
The Sudanese Trade and Supply minister is on a two-day visit to New Delhi.
“The ministers reviewed the bilateral relations with a focus on trade and investment, defence and maritime cooperation,” partly reads an official statement released by the Indian ministry of Commerce and Industry.
Both leaders, it further stressed, also appreciated that there are deep-rooted cultural and people-to-people relations between the two countries.
During the meeting, Patel emphasised that India has always stood in solidarity with the people of Sudan and partnered in undertaking development projects, capacity building and humanitarian assistance.
She urged Sudan to effectively utilise and benefit from the preferential market access offered by India under the Duty-Free Tariff Preference (DFTP) scheme for least developed countries and its services waiver schemes.
According to the United Nations COMTRADE database on international trade, India exports to the East African country was US$1.01 billion in 2021.
Separately, the Indian Union Commerce and Industry minister Piyush Goyal underlined that the India-Africa partnership will play an important role over the next 25 years to fulfill the aspirations of India and Africa.
He made the remarks during the Confederation of Indian Industry-Exim Bank Conclave on India-Africa Growth Partnership in New Delhi.
The CII-Exim Bank event was launched in the year 2005 with the support of India’s ministries of External Affairs as well as Commerce and Industry.
“India and Africa can lead global growth. We look at Africa as partners in progress”, Goyal said Tuesday, adding that both can work together to bring cost-effective solutions in several areas like drinking water, logistics, healthcare, education, Fintech, and solar power, among others areas.
The South Asian county is reportedly among the top five investors in Africa.
Goyal further said India and Africa are working to lead the developing world out of food insecurity.
Africa is also India’s fourth largest trading partner, while merchandise trade reportedly grew from $67 billion in 2019-20 to $89 billion in 2021-22.
(ST)