Press Information Bureau
Government of India
Ministry of Commerce & Industry

06-May-2011 14:57 IST

Shri Anand Sharma, Union Minister of Commerce and Industry, is leading a high-level business delegation to participate in the 21st Meeting of the World Economic Forum on Africa under the theme “From Vision to Action, Africa’s Next Chapter” held in Cape Town, South Africa from 4-6 May 2011. During the Forum meeting, Indian Minister participated in two key sessions on climate change and South-South cooperation along with President Jacob Zuma. Shri Sharma while participating in a TV debate with the South African Foreign Minister, Ms Maite E. Nkoana-Mashabane deliberated on building and deepening South-South relations, which addressed the issues of trade and investment, skills, knowledge and technology transfer, alternative development models and BRICSA. The session dealt with the main challenges and opportunities behind deeper South-South interaction and collaboration; economic and political implications of BRICSA for South Africa; and ways to accelerate the South-South trade and investment ties. Shri Sharma during the debate informed that exports from developing countries now constitute 37% of global trade, of which about half relates to south-south trade. He later emphasised the need for deeper South-South interaction and collaboration which will help in having commonality of approaches on the major issues of international importance including climate change, UN reforms, reform of the international financial system, dealing with the global financial crisis, WTO etc.

Minister Sharma took this opportunity to hold bilateral meetings with key South African Ministers, including his counterpart, Mr. Rob Davies, Defence Minister, Ms. Lindiwe Sisulu, Foreign Minister Ms. Maite Nkoana-Mashabane and discussed matters of common interest. During the visit, he also called on President Zuma and the Speaker of the National Assembly Max Sisulu. Shri Sharma while highlighting on the India’s effort to strengthen mutual cooperation stated that, “Our Ministerial-level participation in the Forum underlined India’s long-standing commitment to partner and share best practices with African countries in their socio-economic development, human resource development and capacity-building. The institutional mechanism of the India-Africa Forum Summit meetings has enabled us to further develop mutually beneficial partnerships aimed at the overall progress of the continent”.

More than 900 participants from 60 countries, including several African Heads of state and government, Cabinet Ministers, Heads of International Organizations and Captains of Industry attended this high profile event which provided a platform for interaction among key stakeholders on how to advance Africa’s socio-economic development. The underlying theme for the meeting focused on how African countries, communities and companies could move the continent forward in view of the unfolding global transformation.

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DS/GK

South South cooperation urged to align trade, climate and institutional reforms and deepen India Africa development partnerships. Indian commerce minister urged deepening South South cooperation to expand trade, investment, skills and technology transfer, seek common approaches on climate change, UN and international financial system reform, and strengthen India Africa partnerships through institutional mechanisms and bilateral engagement to advance socio economic development and capacity building.