The India-Sierra Leone Trade Conference held in Kochi has highlighted India’s growing influence in Sierra Leone’s economy, with bilateral trade reaching $139.86 million in the fiscal year 2019-20, reflecting a 13% increase.
Hosted by the India-Africa Trade Council, the conference revealed that India is now one of Sierra Leone’s top five trading partners. Key exports from India include pharmaceuticals, plastics, non-basmati rice, and industrial machinery. Additionally, imports from Sierra Leone saw a remarkable 109% growth compared to the previous year, comprising ferrous waste, wood pulp, and titanium ores.
India’s commitment to development cooperation in Sierra Leone has also progressed significantly. Notably, India has provided $45 million for irrigation and potable water initiatives, alongside a $32 million Line of Credit to support the establishment of the University of Science & Technology in the Kono District.
During the conference, Rashid Sesay, the High Commissioner of Sierra Leone to India, addressed the South Indian business community. He emphasized Sierra Leone’s potential as a strategic trading partner, focusing on sectors such as pharmaceuticals, IT development, and industrial growth. He also underscored the importance of fostering mutual benefits through enhanced economic cooperation.
The trade conference served as a platform for connecting key stakeholders from the South Indian business sector, marking an important milestone in strengthening bilateral trade relations and opening new economic avenues between the two nations.
Asif Iqbal, President of the India-Africa Trade Council, expressed confidence that this conference would help unlock the untapped opportunities for economic collaboration between India and Sierra Leone. He remarked, “We believe this partnership will lead to new opportunities for businesses in both nations.”
C. Krishna Shankar, Chairman and Managing Director of Finovest Group, was appointed as the Trade Commissioner for Sierra Leone in India. He stated that enhancing trade relations will be a primary focus. An upcoming business delegation from Kerala and Chennai in May plans to explore critical sectors, including mining, tourism, poultry, pharmaceuticals, and infrastructure development. This visit aims to open new investment opportunities, promote partnerships in agriculture and healthcare, and deepen economic engagement between the two regions.
During the conference, several Memorandums of Understanding were signed, paving the way for investment in education, infrastructure, and the pharmaceutical industry.
