Need for diversification of trade basket, deeper cooperation in bilateral investment and skill development in key sectors: Smt. Patel tells the visiting Gabonese Industry Minister

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Union Minister of State for Commerce & Industry, Smt. Anupriya Patel meets Mr. Pacome Moubelet Boubeya, Minister of State, Industry, Gabon.

Union Minister of State for Commerce & Industry(MoS), Smt. Anupriya Patel today met Mr. Pacome Moubelet-Boubeya, Minister of State, Minister of Industry, Republic of Gabon who is on a two day visit to New Delhi to attend 17^th CII-EXIM Bank Conclave on India-Africa Growth Partnership. Minister Moubelet-Boubeya was accompanied by a high-level delegation of ten members including Mr. Hugues Judicael Mbadinga Madiya, Minister for the Promotion of Investment and Public -Private Partnership, Republic of Gabon and Ms. Yolande Christiane Nyonda, Deputy Minister of Foreign Affairs.

The two Ministers held forward looking and productive discussions covering the entire gamut of bilateral trade, commerce, economic and investment ties between the two countries.  They also discussed active economic engagement and identified new areas for cooperation, particularly in mining, defence, agriculture, healthcare, pharmaceuticals, and renewable energy. The two Ministers while expressing satisfaction upon the growing bilateral trade which had crossed 1.2 billion USD in 2021-22 despite the pandemic, acknowledged the need for diversification of trade basket and deeper cooperation in bilateral investment. 

Minister Moubelet-Boubeya apprised MoS about the investment opportunities in Gabon, especially in the Gabon Special Economic Zone (GSEZ) wherein 54 Indian companies have set up manufacturing units in various sectors like pharma, timber, mining, steel and food processing. Both sides noted the need for cooperation in skill development /training and capacity building in key sectors, including quality standards.

MoS appreciated the “Emergent Gabon Vision 2025” plan and assured India's full cooperation in Gabon's transformation and diversification of its economy. Ms. Patel also appreciated the joint efforts of India and Africa Group at the recent WTO Ministerial Conference held in Geneva. Both Ministers have agreed to continue cooperation at various multilateral organisations, including the UN and the WTO.

Trade diversification and deeper bilateral investment cooperation to expand sectoral ties and skill development between India and Gabon. Need for diversification of the trade basket and deeper bilateral investment cooperation with targeted sectoral engagement in mining, defence, agriculture, healthcare, pharmaceuticals and renewable energy, alongside cooperation on quality standards, skill development and capacity building; India's solar expertise and support for Gabon's economic transformation under the Emergent Gabon Vision 2025 were identified as practical collaboration areas, and parties agreed to continue coordination at multilateral fora.