Chilima hopeful on India/ Africa business meeting
Vice-President Saulos Chilima has expressed optimism that the 13th Confederation for Indian Industry (CII) Exim Bank Conclave on India/Africa Project Partnership will help Malawi to attract investors and source markets for local products.
He made the remarks yesterday in New Delhi, India, when he held bilateral talks with that country’s Vice-President, Venkaiah Naidu.
Chilima is in India leading a Malawi delegation to a conclave expected to start today and end on Wednesday.
The CII Exim Bank conclave is India’s largest Africa focused business event promoting entrepreneurship and enhancing Africa-India investment opportunities, attracting a participation of over 30 African countries over the years.
Chilima said: “The government of Malawi and India signed several agreements and memoranda of understanding (MoUs) in 2010 in areas of diplomatic and political consultations, trade, agriculture, health, mineral resources development and rural development, among others.
“I would, therefore, like to urge our senior officials to meet most often to review the implementation of these agreements/MoUs to ensure that the intended objectives are achieved. Implementation is more important than just signing the papers.”
During the talks, the Veep also disclosed that the government of Malawi has submitted a $400 million credit request to India for various projects.
Added Chilima: “The Government of Malawi has submitted to the Government of India a request to access a line of credit amounting to $400 million to help us implement some important projects that include the construction of convention centres in our major cities, Lower Fufu Hydro Power Station, Lambilambi Dam in Mzuzu City and water projects for four regional water boards in Malawi.”
He then thanked the Indian government for offering $1 million to Malawi for the establishment of a business incubator.
On his part, Naidu committed to continue cooperating with the Government of Malawi for mutual benefit.
He also committed to working with Malawi in the areas of skills development, entrepreneurship, modernisation of agriculture, and community technical colleges.
Naidu then announced that he will pay a working visit to Malawi in October 2018.
On financial support, he thanked Malawi for signing and ratifying the Agreement on the International Solar Alliance (ISA).
Consequently, the Indian Vice-President said his government has set aside $ 2billion for solar energy projects.
At this year’s 13th conclave, Chilima will deliver the opening statement as co-guest of honour, apart from other official engagements that will include an audience with Indian leader, Ram Nath Kovind.
The Malawi delegation includes Minister of Trade, Industry and Tourism Henry Mussa and Minister of Foreign Affairs Emmanuel Fabiano, government officials as well as private business sector delegates. n
