INDIA DJIBOUTI TRADE FORUM was inaugurated in Hotel Visaya , New Delhi for building up business relations between both the countries of India and Djibouti.
The Djibouti Trade forum was inaugurated by a high-level delegation led by the Ambassador of Djibouti in India His Excellency Said Absieh Warsama. The President Shri Ramnath Kovind visited Djibouti last year and has pledged commitment of support between the two nations for a robust partnership. There is a huge interest in India as Djibouti is an emerging nation having a great scope for bilateral business opportunities. Djibouti has also opened a Trade office in Hyderabad last month and established the India Djibouti Trade Centre to facilitate Indian Businessmen wanting to do business in Djibouti. Many more offices are expected to open in different cities of India.
“As a Chairman of the organization, my goal is to build bilateral relations reach new heights between India and the Republic of Djibouti” Said Dr. S. Krishnakumar IAS(Retd) former Minister Govt of India who is looking to connect the Indian and Djibouti companies for business. There is a meeting that has been organized by the forum between the CEO of GMR Group for building up an airport in Djibouti as there is robust infrastructure needs and Indian companies have taken a leap into the infrastructure support.
Djibouti also plans to purchase 3000 cars from Tata for plying as taxis. The Vice President of the Organization Saba Fatima said “Djibouti being the only gateway to Africa with three ports has a great potential and we would like to divert business interests from the Middle East to Djibouti and want Indians to work between the two countries and we would like to open service centers for various cars.”
A 20-member delegation will visit Djibouti in the month of June and various MOUs in Sports, Defense Skill development, Agriculture are expected to be signed with various companies and organizations.
The following program and discussion has been planned during the visit to Djibouti:
- Talks about the GMR meeting for the Construction of Airport in Djibouti
- Meetings with the Tata Motors to discuss about the possible collaboration and purchase of 3000 cars for Djibouti.
- Djibouti Trade Forum with Nazli Abdallah, CEO of KB Global as the Chief Patron and the Chairman of the Forum will be Dr. S . Krishnakumar (IAS) who is former Defense and Agriculture Minister. Govt of India will chair joint meeting of entrepreneurs.
- Launching of India’s largest Cultural Centre by and other international Delegates.
- Signing of MOU for Agriculture Co-operation with one business group in Hyderabad from Landmark Developers
- Signing of MOU for Hotel construction with a builder for 50 rooms boutique hotel in Djibouti by Mrs Saba Fathima
- Signing of MOU for India Africa Defense Forum with S Krishna Kumar IAS for skill development in Defense courses
- Real Estate Design and Execution for the African market in Affordable housing.
Djibouti is keen to improve it bilateral relations with India especially in the area of capacity building. MoS for External Affairs Gen V.K. Singh visited Djibouti as special envoy of PM Narendra Modi to invite the President of Republic of Djibouti for the IAFS –III Summit held in New Delhi in October 2015. Indian ships make regular calls at the Port of Djibouti on transit and for joint exercise with US and French navies. Djibouti remains very hospitable to the visits of Indian ships.
The bilateral trade stood at US$284.54 million in 2016-17, out of which India’s exports to Djibouti were US$281.71 million and imports were US$2.82 million. Exports from India consist mainly of cereals, iron & steel products, plastic products, sugar, mineral fuel and footwear etc. During 2016-17, major imports by India from Djibouti were hides and skins, metal scraps and leather. Bilateral trade is in India’s favor. Most of the trade with Djibouti actually serves the growing market in Ethiopia.
The main items which have shown increase in Indian exports are: iron & steel products, paper and plastic products. Due to its strategic location as an important entre port and transshipment point for the region’s landlocked countries, Indian Companies could engage in infrastructure projects like road construction, port development, power transmission and transport. Djibouti is likely to embark on industrial zones which could be a fit for Indian businessmen wanting to set up units and make it a more attractive destination given its access to port and ease of doing business.
Present at the Press Conference:
Ambassador of Djibouti to India- Said Absieh Warsama
Dr. S Krishnakumar IAS(Retd) – Chairman of India Djibouti Trade Forum
Dr Asif Iqbal- Vice Chairman of India Djibouti Trade Forum
Narender Bharti- President of the India Djiobuti Trade Forum
Saba Fatima- Vice President of the India Djibouti Trade Forum
Usha Krishnakumar- Director of Investments, India Djibouti Trade Forum