India, African Nations Hold Talks On Bolstering Trade And Investment Ties

(MENAFN- IANS) New Delhi, March 29 (IANS) Commerce and Industry Minister Piyush Goyal on Sunday discussed the issue of strengthening India’s trade and investment relations with Africa at a meeting with the ministers and ambassadors of African countries on the sidelines of the WTO ministerial conference in Cameroon.

“Had a meaningful engagement with ministers and ambassadors of the Africa Group members on the sidelines of the 14th ministerial conference of the World Trade Organisation (WTO MC14). Held substantive talks on investments, including expanding India’s investments in Africa,” Goyal said after the meeting, in a post on X.

“Our discussions reaffirmed the deep-rooted civilisational and historical ties and trade relations, while exchanging views on enhancing trade between India and Africa and the MC14 agenda,” the minister added.

Goyal also met European Commissioner for Trade and Economic Security, Maros Sefcovic, on the sidelines of the WTO ministerial conference.

Both the leaders deliberated on key priorities under the MC14 agenda and“reviewed progress on the ongoing work towards the signing of the India-EU FTA, as announced by Prime Minister Narendra Modi and European Commission President Ursula von der Leyen in January 2026 in New Delhi.

“Also discussed avenues to further deepen our bilateral economic and trade partnership,” said Goyal in a post on X.

Goyal also met Nigeria’s Minister of Industry, Trade and Investment, Dr Jumoke Oduwole.

“Had discussions on MC14 agenda and explored opportunities to further strengthen trade and economic cooperation between the two nations,” he noted.

A constructive conversation with Brazil’s Minister of Foreign Affairs, Mauro Vieira, resulted in exchanging views on the MC14 agenda, along with enhancing bilateral trade ties and the expansion of the India-MERCOSUR PTA.

At the WTO meeting, drawing inspiration from Mahatma Gandhi’s philosophy of truth prevailing over conformity, India showed the courage to stand alone on the contentious issue of the Investment Facilitation for Development (IFD) Agreement and did not agree to its incorporation into the WTO framework as an Annex 4 Agreement.

“Incorporation of the IFD Agreement risks eroding the functional limits of the WTO and undermining its foundational principles,” said Goyal.

As part of WTO reform discussions, members are discussing guardrails and legal safeguards for plurilaterals before the integration of any specific plurilateral outcome.

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