In the desire to strengthen its cooperation with India. Gabon will soon welcome a delegation from this country which will explore new business opportunities in the fields of agriculture. poultry industry, meat processing and other sectors.
On the sidelines of the celebration of 62 years of independence of Gabon in India, the first Embassy Counselor, Chargé d’affaires, Joséphine Patricia Ntyam-Ehya, signed, in the name of agreement with the Economic and Commercial Council of India, represented by its president, Dr. Asif Iqbal, aims to connect Indian companies wishing to do business in Gabon.
To materialize this agreement, which will also profile Gabonese entrepreneurs, a trade delegation will travel to Gabon in October 2022 in order to initiate these collaboration mechanisms and establish new trade relations, The Embassy of Gabon in India will fully coordinate the meetings and the interactions between the different actors during this stay in Libreville.
As the chairman of the organization, my goal is to build bilateral relations reaching new heights between India and the Republic of Gabon, and our delegation will visit there in the month of October 2022. The focus will be on on deepening and diversifying the relationship, identifying new synergistic areas of cooperation and collaboration, especially after the visit of our Vice President Shri Venkaiah Naidu” explained for his part, Dr. Asif Iqbal, during of the celebration of August 17 in New Delhi, the Indian capital.
In Gabon, the Indian delegation will explore opportunities in contract farming, poultry industry, meat processing and agricultural collaborations. noosans identify other opportunities that could meet the needs of between countries in solid infrastructure. India and Gabon have had cooperative relations since before independence. These relations have intensified over the past 30 years through the presence of economic operators. It has become Gabon’s second largest export destination, behind China. This means that cooperation between the two countries continues to grow with actions to diversify the commercial basket which are more and more in-depth.
India is also Africa’s second largest trading partner after China.
For 15 years, the country has even had an investment policy on the African continent, at the moment of the pharmaceutical or telecommunications market. India is thus gradually displaying its influence in Africa.
More than 1300 billion Indian investment in Gabon
According to the Gabonese Minister for the Promotion of Investments. Hugues Mbadinga Madiya, who spoke at the Gabon-India Business Forum in Libreville on May 31, 2022, India’s investment in Gabon is just over 1317 billion FCFA. Indian companies are very active in the mining, bowls and hydrocarbons industries.
The dynamism observed in the cooperation between encourages us to take a look, in order to take stock of this bilateral relationship which continues to strengthen.
For more than 30 years, the stock of Indian investments in Gabon has exceeded 2 billion US dollars (a little more than 1317 billion FCFA), indicated the Minister for the Promotion of Investments, Hugues Mbadinga Madiya, during the Business Forum Gabon-India, Lenu in Libreville on May 31st. Which, according to the member of the government. Is enormous and makes India one of the important partners of our country.
India is thus positioned as the second destination of Gabon’s exports, behind China.
“Just last year, India bought more than 477 billion FCFA of products from Gabon”, had supported Hugues Mbadinga Madiya, quoted by many media sources. The products that India imports from Gabon include manganese, petroleum and timber. In addition, a large number of Indian companies operate in Gabon in the mining, infrastructure, hydrocarbons and health sectors.
About fifty of these companies are located in the economic zones of NKOK and Ikolo. This means that Indian investments contribute to the influence and dynamism of these economic zones, symbols of the transformation of the Gabonese economy.
Today, India wishes to further increase its investments in Gabon. And Gabon, for its part, says it is open to granting facilities to these companies in the agricultural, energy and education sectors. Health, transport, infrastructure… In addition to trade, Gabon supports India at international forums.
Source: Gabon Matin