New Delhi :The Vice President, M. Venkaiah Naidu today reiterated that India believes the progress of the world is contingent on the development of the Global South and that ‘we attach utmost priority to the India-Africa relationship’.
The Vice President, who is on a three-nation tour of Gabon, Senegal and Qatar, was addressing the business community at the India-Gabon Business event in Libreville, Gabon yesterday. Speaking about India’s growing economic relationship with Africa, he said that ‘India’s own vision of cooperation with Africa will increasingly center around health, digital and green growth. And this is so because we believe that these are Africa’s priorities as well’.
Shri Naidu noted that India-Gabon bilateral trade has crossed US$ 1 billion mark in 2021-22 despite the pandemic and that India is now the 2nd largest destination for Gabonese exports. He also noted the presence of several Indian companies in diverse sectors such as Oil & Gas, Mining, pharmaceuticals, wood processing, etc, especially in the Gabon Special Economic Zone (GSEZ). Earlier today, Shri Naidu visited the Gabon Special Economic Zone (GSEZ) and witnessed the facilities and interacted with the Indian entrepreneurs there.
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The Vice President addressing the India-Gabon Business Forum in Libreville, Gabon on 31st May 2022
Touching on energy cooperation, the Vice President said that Gabon is an important partner for India’s energy security requirement, and observed that India imported about US$ 670 million worth crude oil from Gabon in 2021-22. He said that there is significant potential for diversifying India-Gabon engagement in oil & gas sector by enhancing cooperation in both upstream and downstream domains.
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