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India, Gabon discuss ways to boost economic ties

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Dion Global

29 Nov 2018

India Wednesday discussed with African nation Gabon ways to increase economic cooperation in various sectors, including logistics, infra, energy, agriculture and tourism.

The discussions were held between Gabon's Foreign Affairs Minister Regis Immongault and Commerce and Industry Minister Suresh Prabhu here.

It is possible for the two countries to work together in sectors like logistics, infrastructure, energy, water, agriculture, services and tourism, the ministry said in a statement quoting Prabhu.

The bilateral trade between the countries stood at USD 440.47 million and is yet to realise its full potential, it said.

"Both sides will have to work together to improve bilateral trade in the coming years," it added.

Indian companies are already operating in wood, plywood, mining and fisheries sectors in Gabon.

Gabon has shown interest in entering into a Bilateral Investment Treaty with India.

The ministry also said India has suggested that Gabon may give a complete list of minerals for Indian industries to consider investing in for mining projects.

Gabon has the 6th largest reserves of Manganese in the world. Manganese Ore India Ltd (MOIL) team visited Gabon in July to explore possibilities of joint collaboration with Gabonese mining companies.

The African nation is making efforts to attract investment from India in construction of railway lines in key mining clusters.