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Last updated: 20 Jul, 2022  

Exports.9.Thmb.jpg Need for diversification of trade basket: Minister

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PIB | 20 Jul, 2022

Union Minister of State for Commerce & Industry(MoS) Anupriya Patel today met Pacome Moubelet-Boubeya, Minister of State, Minister of Industry, Republic of Gabon who is on a two day visit to New Delhi to attend 17th CII-EXIM Bank Conclave on India-Africa Growth Partnership.

Minister Moubelet-Boubeya was accompanied by a high-level delegation of ten members including Mr. Hugues Judicael Mbadinga Madiya, Minister for the Promotion of Investment and Public -Private Partnership, Republic of Gabon and Ms. Yolande Christiane Nyonda, Deputy Minister of Foreign Affairs. .

The two Ministers held forward looking and productive discussions covering the entire gamut of bilateral trade, commerce, economic and investment ties between the two countries.  

They also discussed active economic engagement and identified new areas for cooperation, particularly in mining, defence, agriculture, healthcare, pharmaceuticals, and renewable energy.

The two Ministers while expressing satisfaction upon the growing bilateral trade which had crossed 1.2 billion USD in 2021-22 despite the pandemic, acknowledged the need for diversification of trade basket and deeper cooperation in bilateral investment. 

Minister Moubelet-Boubeya apprised MoS about the investment opportunities in Gabon, especially in the Gabon Special Economic Zone (GSEZ) wherein 54 Indian companies have set up manufacturing units in various sectors like pharma, timber, mining, steel and food processing.

Both sides noted the need for cooperation in skill development /training and capacity building in key sectors, including quality standards.

MoS appreciated the “Emergent Gabon Vision 2025” plan and assured India's full cooperation in Gabon's transformation and diversification of its economy.

Patel also appreciated the joint efforts of India and Africa Group at the recent WTO Ministerial Conference held in Geneva. Both Ministers have agreed to continue cooperation at various multilateral organisations, including the UN and the WTO.

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