Q1. According
to some experts, India is one of the most powerful emerging economies in the
world and Côte d'Ivoire is considered to be the leading economy in the UEOMA
area. How can these two countries pool their expertise to strengthen their
bilateral cooperation?
Ans: Indian economy is one of the fastest growing major economies,
backed by its robust democracy and strong partnerships are expected to become
top three economies over the next 10-15 years. Currently Indian economy is the
fifth-largest measured by nominal GDP however, in terms of purchasing power
parity (PPP) the third-largest in the world.
Côte d’Ivoire has been one of the world’s fastest
growing economies and remains the economic hub of UEOMA. It is also the leading
producer and exporter of cocoa beans and cashew nuts.
India- Cote d’Ivoire economic cooperation has been
growing progressively. There are many sectors where India and Cote d’Ivoire can
come and work together as equal partners for win-win cooperation, such as
Agriculture, Healthcare & Pharma ICT and automobiles. Happily India and
Cote d’Ivoire have complete complementarities in these key sectors. For example
Cote d’Ivoire is the largest producer and exporter of cashew nuts but importer
of food-grains and drugs while India is the largest consumer of cashew nuts and
leading exporter of food-grains and quality yet cheap life-saving drugs.
Q2. Excellency,
what is the state of cooperation between India and Côte d'Ivoire at present?
Ans: India and Cote d’Ivoire enjoy cordial, friendly and problem
free relations with frequent high-level visits including the state visit of
Hon’ble President of India in 2016. Over the years our relations have come a
long way and diversified in all spheres and have grown by leaps and bounce.
Trade and investment are growing rapidly apart from the traditional cashew
trade many Indian companies and entrepreneurs have their presence in Cote
d’Ivoire.
Cultural cooperation and people to people contact has
been also growing. Indian movies, cuisines and Television operas are becoming
more popular in Cote d’Ivoire. Education has been one of the silent drivers of
enhancing people to people contacts and instilling better understanding of
India in Cote d’Ivoire and Cote d’Ivoire in India. India provides 100
scholarships to Ivoirian students to study in India and besides this there are
many Ivoirian students studying in India on self-financing basis. Yoga is also
becoming popular among Ivorian youth.
Indian Embassy in Abidjan has been organizing cultural events to further
strengthen our bilateral relations. Hence the level of our cooperation has been
growing satisfactorily.
Q3. What are
the major projects in prospect that could further strengthen the ties between
these two countries?
Ans: Development Cooperation is an important pillar of
India-Cote d’Ivoire relations. These include various projects undertaken under
India’s Line of Credit (LOC) which is a concessional loan. The total exposure
of Indian LOC by EXIM Bank stands at US $ 247.7 million. Projects under LOC
include the recently completed Mahatma Gandhi IT & Biotechnology Park
(MGIT-BP), inaugurated by the Hon’ble Vice President His Excellency Daniel
Kablan Duncan on 27 June 2019. Other LOC projects include 30 Rice processing
units, coconut fibre processing and fish processing plan that are at various
stages of implementation. Another important LOC project which is on the
pipeline would be the building of four hospitals in Bouake, Daloa, Korhogo and
Abidjan.
Additionally, EXIM Bank also extended buyer’s credit for
US$ 137.45 million, under which, Tata Automobiles supplied 567 buses worth US $
87.45 million to Abidjan Transport Authority (SOTRA) and Ashok Leyland has
supplied 841 vehicles (two models of buses & Two models of Trucks) worth US$
50 million to the Fund for Development of Transport Routes (FDTR), an
organization under the Ivoirian Ministry of Transport. In addition, GOI has
also sanctioned buyer’s credit of US$ 54.40 million to Dangote Cement Côte
d’Ivoire. In addition, there are few more India’s LoC projects on the pipeline
through ECOWAS Bank for Investment and Development.
Q4. In March
2020, the 3rd India-Côte d'Ivoire Business Forum was held in Abidjan; what does
this forum consist of?
Ans: The Indian Embassy in Abidjan has been taking
proactive action to convert the existing potential into trade & investment.
So far we have organized three editions the first one in December 2018, second
in June 2019 and the third one in March 2020. Third India-Cote d’Ivoire
Business Forum was organized over two days and included “3rd India-Cote d’Ivoire Business
Forum: Business Connect”, which was inaugurated and addressed by Minister of
Commerce and Industry HE Souleymane Diarrasouba, a special Health Care Seminar
inaugurated and addressed by the Minister of Health and Public Hygiene HE Dr
Eugène Aka-Aouélé, and a two days Solo exhibitions by 30 Indian companies
showcasing their products and services to the Cote d’Ivoire business and public
in general.
The two-day events received an overwhelming response
with more than 100 Cote d’Ivoire and 50 plus, including 15 companies that
travelled from India only to participate these events. The excellent response
to these events is reflective of the growing opportunities in this market as
also the growing interest of Indian enterprises to invest in Cote d’Ivoire.
Q5. How do
you plan to translate the resolutions of this India-Cote d’Ivoire forum into
action?
Ans: India-Cote
d’Ivoire Business Forum is a flagship event to promote bilateral trade and
investment. While immediate achievements of such event may be difficult to
quantified, few Indian IT start-up companies who attended India-Cote d’Ivoire
Business forums have found partners in Ivorian companies to start business
activities. One of the major outcomes of these events has been the setting up
of an assembling plant for three-wheeler e-rickshaw by an Indian company at
Bouake. Few Indian healthcare players who attended our event are also seriously
considering investing and setting up their business in Cote d’Ivoire.
Therefore, I can confidently say that it has helped in
better understanding of what Cote d’Ivoire’s investment & business
environment is to potential Indian investors and business houses to plan and
make up their mind to set up their business operation. I also believe that B2B
interactions between potential partners of India and Cote d’Ivoire business
would go a long way in developing trust and friendship which would ultimately
lead to more trade and investments.
Q6. The
Indian Chamber of Commerce and Industry in Côte d'Ivoire has just opened its
doors recently, what are its objectives?
Ans: Cote d’Ivoire powered by rapid economic growth and
investment friendly policies has been a welcome ground for investors and entrepreneurs.
Given the increasing interest among the Indian business to enhance bilateral
trade and investment, the absence of Indian Chamber of Commerce was strongly
felt. To bridge this gap, Embassy brought together like minded prominent Indian
business personnel to form an Indian Chamber of Commerce & Industry
(ICCI-CI). The ICCI-CI was formally inaugurated by the Minister of Commerce and
Industry HE Souleymane Diarrassouba on 13 February 2020.
The ICCI-CI set up with an objective to build
partnership between the businesses and professionals to bring about a healthy
environment to foster bilateral cooperation with the host country and Indian
Business. The ICCI-CI expects to serve the business community by addressing
most frequently asked start-up questions and provide a wide range of resources.
It is also expected to help in resolving many commercial disputes in
cooperation with host government and other chambers of commerce which would
ultimately lead to greater trade and Investment between India and Cote
d’Ivoire.