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India-Cote d'lvoire

 

 

Embassy of India

Abidjan

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India – Cote d’Ivoire Economic Relations

 

Bilateral Trade

 

          Total bilateral trade data during the last five years are as follows:

 

Year

Exports(E)

Imports (I)

Total (E+I)

Surplus/Deficit

(E-I)

%age Growth

2010-11

94.15

250.84

344.99

 -156.69

 

2011-12

282.53

466.33

748.86

-183.8

117.07

2012-13

395.97

384.23

780.20

 +11.74

4.19

2013-14

298.95

298.40

597.35

 +0.55

-23.44

2014-15

309.75

532.10

841.85

 -222.35

40.93

2015-16

397.00

572.5

969.5

-175.5

15.16

2016-17

419.5

455.8

875.3

+36.3

-9.72

2017-18

(April-Sept)

 282.88  349.06  631.94  - -

(in million US$)

Source: Ministry of Commerce, the Govt of India

 

2.    The bilateral trade, having witnessed a substantial increase post internal disturbance period marking return of peace and political stability since mid 2011, remained steady in the following year and slowed down in the year 2013-14. It has picked up since then and is now in the range of 850-975 million USD. In the first six months of the financial year 2017-18, total bilateral trade was at 631.94 million USD, and it gives an indication that for the first time the total bilateral trade is likely cross one billion USD.

 

3.   India imports cashew, manganese ore, cotton, wood, scrap metals, rubber, etc. CI is the largest exporter of cashew in the world and India imports around 30 percent of Ivorian exports of cashew now (down from 80% till 2011-12). The main items of India's export are cereals (rice), pharmaceutical products, machinery, articles of iron, chemicals, plastics, rubber products, vehicles, etc.

 

 

Economic and Commercial Exchanges

 

 2017 

-Visit of Honorable Vice President of Cote d’Ivoire Mr. Daniel Kablan Duncan to India from 22-25 May 2017 to participate in the 54th Annual Meetings of the African Development Bank (AfDB) held in Ahmadabad.

- A business delegation comprising of 25 Indian companies visited Cote d’Ivoire from 9-11 October 2017. On the first day (9 October), the visiting delegation was briefed by Minister for Industry and Mines (Jean Claude Brou); Minister for Agriculture (Coulibaly Sangafowa); Minister for Digital Economy and Posts (Brou Nagbne Kone) and Minister for Transport (Adama Kone) on the opportunities available in Cote d’Ivoire and the policy initiatives of the Ivorian Government to attract foreign investment. Senior Officials from Ministry of Health and Ministry of Energy also addressed the delegation. The delegation called on the Prime Minister Amadou Gon Coulibaly on the evening of 9 October. On the second day (10 October), Mission organized a Business Forum meeting in Abidjan in collaboration with the Ivorian Chamber of Commerce. The half-day long event had to be extended due to positive response from the Ivorian companies and businessmen. Nearly 100 Ivorian businessmen representing various companies attended the event. Indian businessmen having presence in Abidjan also attended the meetings. On the third day (11 October), the delegation visited the site of Mahatma Gandhi IT and Bio-Tech Park in Grand Bassam. Later in the evening, the delegation paid a courtesy call on the Vice President Daniel Kablan Duncan.

 2016

-Honorable Rashtrapathi ji (President of India) Shri. Pranab Mukherjee visited Cote d’Ivoire in June 2016. This was the first bilateral visit at the level of Head of the State.

-Visit of Minister for Digital Economy and Post Mr. Bruno Nabagné Koné in October 2016 to participate in World Economic Forum meeting.

-The First Joint Commission Meeting held in October 2016 in New Delhi. (The Ivorian delegation was led by Foreign Minister Mr. Albert Abdullah Mbari)

 2015

-Minister of State for Drinking Water and Sanitation Shri Ram Kripal Yadav visited Abidjan from 13-16 July 2015 as Special Envoy of the Prime Minister to personally handover the invitation for the third India Africa Forum Summit in New Delhi.

- Visit of Minister for Mines and Industry Mr. Brou Kassi Jean Claude to New Delhi to participate in the IAFS-III in October 2015.

 2014

-MOS External Affairs Mrs. Preneet Kaur visited Abidjan from 22-24 January 2014.

-Cote d’Ivoire’s Prime Minister Mr. Daniel Kablan Duncan accompanied by Ministers of Trade and Mines & Industry visited India from 3-7 November 2014 to participate in India Economic Summit in  New Delhi.

 2013

-Prime Minister Mr. Daniel Kablan Duncan visited India from 17-19 March 2013 and addressed the 9th CII-EXIM Bank Conclave. He was accompanied by five Cabinet Ministers of Industry,   Agriculture, Health, Economic Infrastructure and Information & Communication Technology. 

 

 

Indian Economic Assistance  

 

4.      Bilateral ties have been strengthened by the expanding South-South Cooperation between the two countries. CI has received soft credit for development projects in the areas of agro-processing, transport, electricity transmission, fisheries, etc. Following Lines of Credit (LOC) have been extended to CI through Exim Bank of India:

 

 

Year of  Approval

Amount

(UDS In million)

Purpose

Date of signing of LOC

Value of contracts covered under the LOC (USD million)

2005-06

26.8

Renewal of urban transport system in Abidjan and for agricultural projects in the field of vegetable oil extraction, fruits and vegetable chips production, production of cocoa, coffee

(Project completed)

03/08/2005

26.8

2007-08

25.5

(i) Mahatma Gandhi IT and Biotechnology Park, (ii) Fisheries Processing Plant and (iii) Coconut fiber processing plant

(On going)

18/06/2008

 

25.5

 

2009-10

30

Transmission line between Cote d'Ivoire and Mali

(On going)

30/12/2009

30

2014-15

24

Electricity Interconnection Project between Cote d'Ivore and Mali

(On going)

22/09/2015

24

2016-17

71.4

Upgradation of Military Hospitals

(On going)

24/05/2017

71.4

Total

177.7

   

177.7

 

Indian Investment in Cote d’Ivoire

5.  A number of Indian enterprises have acquired presence in CI in recent years making India one of the largest FDI country in CI. Two Indian companies are active in the manganese ore extraction and exports.  A mid-size steel plant King Ivoire is owned and run by Indian business group.

 

6.  There are a large number of Indian companies – small and medium size – involved in trading of cashew, timber and commodities; manufacturing; ICT; agro-processing, etc. However, many of these enterprises, controlled by NRIs / PIOs, are now based out of Dubai, Singapore, etc.

 

7.  Many large Indian pharmaceutical companies, including Ranbaxy, Cadila, Ajanta, Stride, Bharat Serum, Micro Labs, IPCA, etc., have intensified their operations in CI. Several of these companies have opened / expanded their offices in Abidjan in 2013 and 2014 with the objective of covering the entire West African, particularly Francophone countries, from Abidjan.

 

8.  Tata Automobiles have presence in Cote d’Ivoire. Tata’s are currently supplying vehicles for Abidjan Transport Authority under India’s Buyers Credit of USD 78 million USD. India's bus and truck builder, Ashok Leyland, officially opened on December 11th 2017, a headquarters in Abidjan that will serve as a regional base for the development of its activities in West Africa. Ashok Leyland is also executing a project under India’s Buyers Credit of USD 199 million with Founds for Development of Transport Routes (FDTR), an organization under the Ivorian Ministry of Transport.

 

8. India extended a total grant of US$ 790,000/- for establishment of the Centre for Demonstration and Promotion of Technologies (CDT) situated in Abidjan. CDT is an autonomous institution under Ministry of Industry of CI. The implementing agency on Indian side was National Research Development Corporation, a GOI enterprise, and LA Societe (I2T), Ivoirienne De Technologie Tropicale on the Ivorian side. The project was implemented for a period of three years during 2007-2010 under an MOU signed between two Governments in 2005.

  

9.  IAFS Process: Under the PAN African e-Network Project, many Ivorian students have pursued higher studies through distant learning faculties at the University of Cocody. A tele-medical consultation facility with prominent hospitals in India has been established at Youpogong Hospital in Abidjan. A 3-member team from Ministry of Rural Development and NIRD visited from 18-23 May 2015 to examine establishment of Rural Technology Park in CI as per decision of IAFS –II.

 

 

 

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January,2018

 

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