External Affairs Minister Pranab Mukherjee on Saturday said India has not forgotten its promise to offer duty-free and quota-free access to products from the world’s least developed countries (LDCs) at the last World Trade Organisation ministerial summit at Hong Kong in December 2005. Mukherjee also said “institutional arrangements have been put in place to explore possibilities of comprehensive economic cooperation agreements with the Common Market of South Africa (COMESA) and the East African Community ”. Speaking at the inaugural Dr Dharampal Memorial Lecture organised by the Observer Research Foundation on India and Africa’s historic ties and future prospects, Mukherjee said India will host the India-Africa Forum summit in April next year. Citing India’s continued assistance to Africa’s development projects, he said, “Past debts have been written off and fresh credit lines of about $1.5 billion have been allocated. Indian investment in Africa—both public and private—is steadily rising.” Further, he said India supports the New Partnership for Africa’s Development (NEPAD) which has today become a symbol of post-colonial renaissance. “We have announced lines of credit of $200 million to assist NEPAD’s objectives,” he said. Mukherjee said apart from work on economic agreements with COMESA and EAC, “the Cabinet has already approved the draft framework agreement with the Southern African Customs Union for a PTA (Preferential Trade Agreement).
