PM announces the Indo-Japan initiative Asia Africa Growth Corridor at AfDB
The Dollar Business Bureau Recalling the historical ties India shared with the African continent, Prime Minister Narendra Modi inaugurated the 52nd annual meeting of the African Development Bank (AfDB) at Gujarat yesterday. Lauding the growing trade relationship between Africa and India, he mentioned that trade has multiplied between the two in the last fifteen years. It has doubled in the last five years to reach nearly seventy-two billion US dollars in 2014-15. India’s commodity trade with Africa in 2015-16 was higher than its commodity trade with America he said. The highlight of the inaugural address was the keenly awaited announcement by the PM on the Indo-Japan initiative, the ‘Asia Africa Growth Corridor’(AAGC), that was discussed and deliberated upon with Japanese PM Abe during ...
C-4 countries raise concerns over falling cotton prices
Bidhu Bhushan Palo | The Dollar Business The Cotton-4 (C-4), the main four cotton producing countries in Africa, have raised concerns over subsidies and trade policies after the International Cotton Advisory Committee (ICAC) said in its 2014-15 outlook that world cotton trade could shrink significantly this year and probably in years to come. Global cotton exports have seen a decline this year mainly due to policy changes in China, the world’s largest cotton importer. After aggressive purchases in recent years, China has said that it will restrict cotton imports until domestic cotton reserves see a significant decline. China also says that restrictions on textile imports by developed countries have led to lower production in China. According to the ICAC, China ...
