SME Times News Bureau | 29 Jul, 2019
India
and Benin on Monday signed an MoU on Cooperation in the field of Export Credit
and Investment Insurance.
On
the first leg of his state visits to three West African nations – Benin, Gambia
and Guinea, Kovind had reached Cotonou, Benin on Sunday.
On Monday,
29 July 2019 Kovind and Beninian President Talon witnessed
the signing and exchange of the MoU along with four other MoUs.
In a
delegation-level talks between the two sides, Kovind said that Benin and India share warm and
friendly ties. India is keen to strengthen economic partnership with Benin.
He was
happy to note that India has emerged as the largest trading partner of Benin
with two-way trade crossing US$ 800 million.
Around
100 Indian or Indian-owned companies are operating in Benin. More Indian
companies are interested to enter the Benin market especially in mining. India
seeks Benin’s support to help them grow their business.
The President
said that India is committed to support Benin’s growth and development.
He was
happy to note that implementation of the US$ 42.6 million Line of Credit for
upgradation of water supply schemes in 103 villages in Benin, is proceeding
well.
He
announced fresh Line of Credit worth US$ 100 million for developmental projects
in Benin.
He
also announced extension of e-visa facility to Benin. He expressed confidence
that this facility will give a major boost to India-Benin business relations.
India
also offered to extend free tele-education courses to 15,000 Beninese students
and tele-medicine courses to 1000 doctors and paramedics in Africa.
In
addition, the two sides discussed defence and security cooperation and India
offered further training assistance to Benin to expand its anti-piracy
capacity.
India
thanked Benin for its support for India's candidature for permanent membership
of the UN Security Council.
Both
countries reiterated their commitment to stand together in the global fight
against terrorism and piracy.
They
also agreed to work together to combat climate change through the International
Solar Alliance.