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India GABON Business Council launched on the National Day of Gabon

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New Delhi [India], August 24 (ANI/SRV): India GABON Business Council was launched by the Indian Economic Trade Organization and the Embassy of GABON to accelerate the trade relationships between both countries. The MOU was signed by the Charge D Affaires of the Gabon Embassy Josephine Patricia Ntyam- EHYA and the President of the Indian Economic Trade Organization Dr Asif Iqbal during the event which was attended by the business community in New Delhi.

The President of the Indian Economic Trade Organization Dr Asif Iqbal greeted the team at the Embassy of GABON and pledged the commitment of support between the two nations for a robust partnership. There is a huge interest in India for GABON, a country with great scope for bilateral trading opportunities in MSME, Pharma, Wood and Manufacturing sector. This will also be useful for identifying business partners, collaborations, alliances, setting up industrial units, displaying Indian products and services and other related business activities as well as taking up issues to concerned authorities.

Gabon celebrated 62 years of Independence and the event of the National day at the ITC Maurya witnessed the Diplomatic community and Gabonese foreign citizens who joined with a cultural performance by the Gabon team. The chief guest of the event was the Joint Secretary of the Ministry of External Affairs Sevala Naik Mude IFS who emphasized on strengthening relations between both countries and deepening them with India’s economic diplomacy.

The Council will put efforts to take full advantage of the Economic Cooperation Agreement between the two countries and organize various activities to educate and create a conducive business atmosphere in the Indian SME Investor Sector for better business growth and investment promotion.

Charge D Affaires of the Embassy of GABON said global trade relations were essential and it was gratifying to see the development of trade relations between India and GABON.

“As a President of the organization, my goal is to build bilateral relations reach new heights between India and Republic of GABON and our delegation will go in the month of October 2022. The focus will be on to deepen and diversify the relationship by identifying new synergetic areas for cooperation and collaboration, especially after the visit of our Vice President Venkaiah Naidu” said Dr Asif Iqbal who is looking to connect the companies for business in GABON. Indian delegation will explore opportunities in areas of contractual farming, poultry industry, meat processing and agricultural collaborations and also identify other opportunities for building up a robust infrastructure needs of the country.

The Charge D’Affaires also expressed great interest in supporting the trade relations between the two countries and invited the trade community to explore all the available choices for investors. India and Gabon have enjoyed warm and friendly relations dating back to the pre-independence era of Gabon. Former Vice President of India visited the African nation of Gabon in May 2022 making it the first-ever high-level visit of India to Gabon. Both India and Gabon are currently serving as non-permanent members of the UNSC (United Nation Security Council). The Bilateral trade between both nations reached USD 1.12 billion in 2021-22. India is the 2nd largest destination for Gabonese exports.

In the business sector, more than 50 Indian companies are engaged in the Gabon Special Economic Zone.

Gabon was among the first countries to sign and ratify the International Solar Alliance agreement. India conveyed to extend all possible assistance to Gabon to achieve its renewable energy targets. Gabon plans to have 100 per cent clean energy by 2030. India imported about USD 670 million worth crude oil from Gabon in 2021-22, making it an important partner for India’s energy security requirement. There is a need to Explore India-Gabon cooperation in green energy, services, health, and agriculture among other sectors.

Both countries should broaden their economic partnership to attract investments.

There is plethora of possibilities for cooperation in Agriculture such as knowledge transfer in the farming sector from India to Gabon.

This story is provided by SRV. ANI will not be responsible in any way for the content of this article. (ANI/SRV)

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