November 2015 \ Business & Investment \ Business and Governance

  • Ms Nirmala Sitharaman

The 4th India-Africa Trade Ministers’ Meeting (IATMM) was held in New Delhi on the eve of the 3rd India-Africa Forum Summit in October. The meeting was attended by 37 delegations comprising of Trade Ministers/ officials/ 8 Regional Economic Communities from various countries. These countries included Algeria, Angola, Benin, Comoros, Congo, Djibouti, Egypt, Gambia, Ghana, Kenya, Lesotho, Liberia, Malawi, Mali, Morocco, Namibia, Mauritius, Niger, Senegal, Seychelles, Sierra Leone, Somalia, South Sudan, South Africa, Togo, Tanzania, Tunisia, Zambia and Zimbabwe.

Minister for Commerce and Industry, Ms Nirmala Sitharaman said that India sees Africa as a natural partner and together, we can have a positive influence on the future global economic order. Speaking at the 4th India-Africa Trade Ministers’ Meeting in New Delhi, she said that both India and Africa face similar challenges and concerns and the world economy offers tremendous opportunities to the two Fastest Growing Regions.

Addressing the Trade Ministers, Ms Sitharaman said that consequent to the First India-Africa Forum Summit in Delhi in 2008, India made an announcement of granting Duty Free Tariff Preference to Least Developed Countries (LDCs) in order to open the Indian market to greater exports from African countries.