By Martin Hacthoun, Prensa Latina
New Delhi : Indian Prime Minister Manmohan Singh voiced Wednesday his support for strengthening economic and trade relations with Latin America, as part of the South-South cooperation.
“As developing nations, we must work together to develop our own human capital, economic growth, and social welfare,” the official told Prensa Latina.
Singh affirmed that in this process “it is necessary to take into consideration the establishment of effective mechanisms in economy, trade, and other sectors to promote cooperation among our countries.”
In press conference along with the leaders of 14 African countries after the 1st India-Africa Summit, Singh indicated that New Delhi’s unilateral initiative to open the Indian market to exports from the 50 least developed countries, tax free, is one of the steps in that direction.
The Indian government’s decision to double soft credit lines for Africa at 5.40 billion dollars in the coming five years is another of those steps.