----- Original Message -----
From: "Andy Mensah" <[log in to unmask]>
To: <[log in to unmask]>
Sent: Sunday, March 07, 2004 5:10 PM
Subject: [unioNews] India, West African Countries Explore Trade
Opportunities
07 Mar 2004, 12:29 UTC
<H3>India, West African Countries Explore Trade Opportunities</H3>
Anjana Pasricha
New Delhi
<B><i>India and eight West African countries are planning to step-up
trade and business ties.</i></B>
India has promised cheap loans worth $500 million to eight West
African nations, along with technical expertise to help them develop
their economies.
Several of these countries, including Ghana, Mali, Senegal and the
Ivory Coast, are rich in natural resources, including minerals. The
other countries hoping to boost trade ties are Equatorial Guinea,
Chad, Burkina Faso, and Guinea Bissau.
Shipra Sharma at the Confederation of Indian Industry says African
countries want to do business with India because it can provide
technologies that are cheaper and more relevant than those from the
developed world.
"The technologies which we can provide for them are actually grass
root level, which is where they are right now.," she said. "As of
today, they are importing most of their equipment from Europe, which
turns out to be very expensive, because Europe no longer has
technologies which are suitable to the West African requirement."
Most of the African countries want joint ventures with India for
mineral exploration, technology to improve food grain production, and
agro processing plants.
Ghana, for example, wants factories to process its cocoa crop, much
of which is currently sold as cocoa beans. Chad has irrigated land,
but needs farm equipment and technologies to tap its potential.
Indian scientists and technicians will also help develop the
pharmaceutical and health care industries, and information technology
and telecommunications.
Ms. Sharma says India's trade with this region is negligible at
present, but the potential for cooperation is vast.
"There is immense potential. Raw material is in abundance, and
training and capacity building from India's side is a big
possibility," she said.
Ms. Sharma says closer cooperation with West Africa will also give
Indian business an opening to these markets for their manufactured
goods.
Copyright © 2004 VOANews.com
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