About twenty business leaders from Togo will participate, on March 9 and 10, in the 12th India-Africa Summit hosted by the Exim Bank of India in New Delhi. The businessmen are looking forward to boosting Togolese SMEs/SMIs.
Private sector representatives are expected on March 9 and 10 in New Delhi at the 12th India-Africa Summit. According to the Togolese authorities, some 20 business leaders will attend the meeting to establish partnerships with Indian companies.
« This summit illustrates the close partnership between India, Africa and Togo. It is aiming at fighting together against poverty, famine and at promoting development. New Delhi intends to strengthen its cooperation on the basis of equality and mutual respect. A strong bilateral relationship backed by close links with regional organizations such as ECOWAS, » said the Togolese Foreign Minister, Robert Dussey.
The Chamber of Commerce and Industry of Togo (CCIT) will also be strongly involved, and to better prepare the summit, meetings have recently been held between economic operators and the Ministry of Planning.
A meeting to boost SMEs
The Togolese authorities are planning to develop the private sector, the largest job provider for 41% of the country’s gross domestic product. But Togo, like other countries in sub-Saharan Africa, is faced with the problem of promoting small and medium-sized enterprises and industries which are, nevertheless, crucial for national economy. The 12th India-Africa Summit in New Delhi is a great opportunity for the Togolese authorities to develop a new approach.
« Africa as a whole must attend this event which will undoubtedly offer many opportunities to the economic operators in all sectors of activity, » said Rémy Moevi. According to him, the economic operators attending this summit will have the opportunity to establish business connections with Indian operators and winning-winning partnerships with the country’s companies.
This is shared by Kueku-Banka Johnson, Director of the Lome Exhibition Center (CETEF): « What will happen here is to present the public projects to see if the Indians can help us finance them; and with the private sector, to see how our industrialists, our businessmen, can establish partnerships with the Indians and request financing support by EXIM Bank. »
$ 100 million for Togo
The quality of relations between India and Togo also justifies the country’s participation in the 12th summit. The Indian bank, Exim Bank, organizer of the meeting, has already a branch to Togo where it finances energy and agricultural projects. Recently, India provided a financing of $ 100 million through the Togolese branch.
« For many years, our relations have been excellent, and we will still work for the development of our cooperation with Togo. We will continue to share our experiences with Togo in the areas of technology, health and education, » said Jeeva K. Sogar, an Indian diplomat. According to him, Togo and India must work together to implement all the current development projects, for the benefit of the populations, and for emerging Togo. The last financing agreement falls within this process.
The 12th India-Africa summit will be the 9th for Togo. In 2015, at the 11th summit, Togo had managed to attract the attention of Indian companies and investors to its market.