By ANDUALEM SISAY in Ahmedabad, India
Indian Prime Minister Narendra Modi has called on African
states to cooperate with his country in their development programmes to
improve the lives of their people.
“Many of the challenges we face are the same: Uplifting our
farmers and the poor, empowering women and ensuring our rural
communities have access to finance and building infrastructure.
"India will stand with you shoulder-to-shoulder for a better future for all of us,” said Mr Modi.
He made the remarks Tuesday during the opening of the 52nd
African Development Bank (AfDB) annual meeting in Ahmedabad, in western
India.
The premier further noted that India’s partnership with Africa
was based on cooperation which was responsive to the needs of the
African countries.
Economic policy
“Africa-India trade multiplied in last 15 years. It doubled in the last five years to reach nearly $72 billion in 2014-15.
"After assuming office in 2014, I have made Africa a top
priority for India’s foreign and economic policy. I am proud to say that
there is no country in Africa that has not been visited by an Indian
minister in the last three years,” the Premier said.
AfDB President Akinwumi Adesina, who has previous work
experience in India, said he admired the Asian state’s political will
and achievement in improving the lives of the people.
Dr Adesina called on India to continue investing in Africa, which he said benefits the whole world.
Future market
In Dr Adesina's opinion, partnering for Africa’s development
means building the future market with its consumer spending estimated to
reach $1.4trillion in the coming three years.
AfDB, he noted, was set to launch African investment forum soon to attract pension and hedge funds and insurances, among others.
He also noted that AfDB would also continue aggressively
investing in Africa, including $12 billion in agriculture improvement in
the coming five years.
Global value chain
In addition to agriculture, the bank has selected four major
priority investment areas that speed Africa’s development, including
regional integration, industrialisation and power supply.
“African farmers sweat while others eat sweets. We must end
Africa being at the bottom of the global value chain. Africa is
approaching an exciting time. India and Africa should navigate this
opportunity and build a common future,” Dr Adesina said.
The 52nd AfDB annual meetings are also being attended by presidents Macky Sall of Senegal and Patrice Talon Benin.
No comments :
Post a Comment