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India, Africa agree to promote trade, tech transfer, skills & SME development

New Delhi, Oct 3 (KNN)  The Africa-India Business Council (AIBC) met in Johannesburg on Tuesday to explore mutually beneficial economic engagement between the two countries, including SME development.
“The business leaders from both sides expressed satisfaction on the deepening and comprehensive politico-socio-economic relations between Africa and India.  As long-standing strategic partners in progress of each other, both sides reaffirmed their commitment to work together with a balanced and rewarding approach, bearing in mind each other’s development priorities, based on common shared values,” said an official notification.
It was the 2nd meeting of the Africa-India Business Council, representing the voice of the industry.
It was led by Acting Co-Chair, AIBC from Africa, Bright Chunga, and Co-Chair AIBC from India, Sunil Bharti Mittal, and attended by representatives of leading industry and institutions from the two countries.
Besides discussing possible partnerships at bilateral, regional and continental level, the council deliberated on the issues that are bottlenecks in achieving the true potential of Africa–India partnership and suggested the possible mechanisms to strengthen economic cooperation, growth amidst challenging times.

As many as 5 working groups were constituted to explore and promote the agenda of the business council and provide a new thrust to bilateral trade, investment and economic cooperation.   Their agenda for the coming year would comprise a plan of action to further trade, investment, technology transfer, skills development, capacity building, SME development etc.

It was felt that visa and connectivity needed to be worked upon to deepen the engagement between both sides.