COMESA Secretariat and the Government of India have committed to strengthen relations by opening up new channels of trade, support and collaboration through a renewed Memorandum of Understanding replacing the one signed in 2003.
This move is expected to help boost trade levels between India and COMESA Member States which stood at US$ 18 billion in 2023-2024, way below its true potential.
This came to light in Lusaka on Thursday 24 April when India’s High Commissioner to Zambia His Excellency Shri Alok Ranjan Jha presented his Letter of Credence as Special Representative to COMESA.
Speaking on the partnership, Secretary General Chileshe Mpundu Kapwepwe emphasized the importance of strengthening India’s longstanding partnership with the COMESA region and the African continent at large.
“We deeply value the relationship we have fostered over the years. As one of the major global actors, India has a rich history of economic innovation, democratic institutions and international cooperation.”
The Secretary General acknowledged India’s support in the past pointing out that they supplied over 19% of COMESA’s pharmaceutical imports during the COVID-19 pandemic and ranked as the third-largest import source in 2023.
She appreciated India’s collaboration through initiatives like the India-Africa Forum Summit, South-South Cooperation frameworks, capacity-building programs, and investments in technology and healthcare.
The SG expressed eagerness to finalize a new agreement aimed at enhancing collaboration in various sectors, including information and communication technology (ICT), energy, science and technology, and productive integration.
High Commissioner Jha commended COMESA for remaining committed to addressing its Member States’ structural and institutional weaknesses and promoting political stability, which is essential for sustained economic development.
He added that India views COMESA as a crucial institution for strengthening commercial ties and Indian corporate firms are encouraged to participate in infrastructure projects and establish manufacturing facilities for products like agricultural equipment, textiles, pharmaceuticals, and processed food for consumption within COMESA and other African states.
Special Representative Jha committed to enhance the India-COMESA engagement through various well-established channels such as the Indian chambers of commerce and industry or thematic mechanisms such as Joint Study Groups set up to examine specific aspects of the engagement.