India deepens trade ties with Burkina Faso

February 10th, 2011 - 3:19 pm ICT by IANS  

By Francis Kokutse
Accra, Feb 10 (IANS) Trade between India and the neighbouring west African country of Burkina Faso has gone up over the past three years following an improvement in the bilateral relations between them, a statement by the Indian High Commission in Accra said.The Indian high commissioner in Accra is concurrently accredited to Ougadougou, the capital of Burkino Faso, a landlocked country of 15 million people that was formerly known as Upper Volta.

“According to available statistics, the trade turnover between the two countries has gone up to $88.36 million in 2008-09 as compared to $51.76 million in 2007-08. India’s exports to Burkino Faso have increased to $48.29 million in 2008-09 from $32.40 million in 2007-08.

“India’s major exports to Burkina Faso are pharmaceutical products, vehicles and parts, iron and steel and articles thereof, machinery and mechanical appliance and rubber products,” the statement said.

Imports from Burkina Faso include cotton, iron and steel, wood and articles of wood, raw hides and skins.

The Indian government is also supporting various projects in Burkina Faso with a total of $74.97 million under the Indian government’s TEAM 9 initiative and the Pan African e-Network Project.

In addition, various agricultural projects together with the construction and equipping of a national office are to receive $30.97 million out of the amount.

“A line of credit of $25 million has been approved for rural electrification,” the statement said, adding that, another line of credit of $5 million has also been approved to finance a multi-media call centre project.

For the 2009-10 financial year, “India provided technical assistance to the country to support its human resource development through the Indian Technical and Economic Cooperation (ITEC) and Special Commonwealth African Assistance Plan (SCAAP) under which 22 people benefited,” the statement said.

Relations between the two countries have grown over the past few years. Burkina Faso participated in the India-Africa Partnership Conclave in Delhi in March 2008. The following year the country participated in another business conclave.

(Francis Kokutse can be contacted at fkokutse@hotmail.com)

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |

Subscribe