India, Zimbabwe Decide To Further Enhance Co-op In Priority Sectors

New Delhi, Feb 5, IRNA -- India and Zimbabwe have decided to further enhance their cooperation in the priority sectors of cooperation namely, pharmaceuticals, infrastructure, health sector, small and medium industries. This was agreed during a bilateral meeting of the Union Minister of Commerce and Industry Anand Sharma with Ms. Joice T R Mujuru, Vice President of Zimbabwe and Michael Bimha, Industry and Commerce Minister of Zimbabwe, in Harare, said an official release issued here today. Sharma also met Patrick Chinamasa, Zimbabwe’s Minister of Finance. The Indian Minister informed the Zimbabwean side that in addition to the assistance being offered under the Lines of Credit, India is willing to provide assistance under the Buyers’ Credit Programme. India, in September 2012, approved a LoC worth USD 28.6 million for upgrading of Deka Pumping Station and the River Water Intake System in Zimbabwe. During the discussions, it was also decided to speed up the implementation of various projects being executed under the India-Africa Forum Summit Program. India is mulling to set up an Food Testing Laboratory FTL in Zimbabwe at an approximate cost of US$ 2 million under the India-Africa Forum Summit-II. Under the IAFS-II, India is in the process of setting up Rural Technology Park in and a Vocational Training Centre (VTC)/Incubation Center. Sharma also expressed India’s commitment to deepen and diversify the trade and investment ties between India and Zimbabwe. While India’s export to Zimbabwe stood at US$ 133.08 million in 2012, it rose to US$ 176.26 million in 2013. On the other hand, India’s imports to Zimbabwe decreased from US$ 33.02 million in 2012 to US$ 10.29 million in 2013. India exports drugs, pharmaceuticals and chemicals, machinery and instruments, electronic goods and plastic & linoleum products as major commodities to Zimbabwe. Zimbabwe, on the other hand exports cotton, tea, non-ferrous metals and spices to India as principal commodities./end