SADC and India Sign MoU to Boost Economic Cooperation
The Southern African Development Community (SADC) and the Government of India have signed a new Memorandum of Understanding (MoU) aimed at strengthening economic cooperation. The agreement, signed on July 2, 2024, at the SADC Secretariat, marks a significant step in deepening the partnership between the two parties.
The MoU was signed by His Excellency Mr. Elias Mpedi Magosi, the SADC Executive Secretary, and His Excellency Mr. Bharath Kumar Kuthati, High Commissioner of India to Botswana and Special Representative of India to SADC.
This new framework is designed to align with the regional priorities outlined in the SADC Regional Indicative Strategic Development Plan (RISDP 2020-2030) and the SADC Digital Transformation Strategy. It aims to foster cooperation in several key areas, including industrialization, human and social development, new and emerging technologies, trade and investment, disaster risk management, women-led development, private sector development, space cooperation, green growth, and research and innovation.
Key Areas of Cooperation:
- Industrialization: Promoting regional value chains in agro-processing, pharmaceuticals, and mineral beneficiation.
- Human and Social Development: Enhancing health, education, and skills development.
- New and Emerging Technologies: Developing ICT, including connectivity, access, and Digital Public Infrastructure (DPI).
- Trade and Investment: Facilitating trade, transit, and investment while promoting trade in services.
- Disaster Risk Management: Cooperating on disaster preparedness, response, and recovery.
- Women-led Development: Formulating women-centric public policies and programs.
- Private Sector Development: Supporting entrepreneurial development, startups, and small and medium-scale industries.
- Space Cooperation: Utilizing space technology for developmental goals.
- Green Growth and Green Infrastructure Development: Focusing on renewable energy and water resources management.
- Research and Innovation: Collaborating on areas of mutual interest.
The signing of this MoU builds on a longstanding relationship between SADC and India, which began with the initial MoU on Economic Cooperation signed on October 14, 1997. The renewed commitment underscores the historical ties of friendship, solidarity, and mutual support that exist between India and the member states of SADC.
His Excellency Mr. Elias Mpedi Magosi emphasized the importance of this MoU in enhancing regional economic growth and development. “This agreement is a testament to our shared vision of progress and prosperity for our peoples. It will serve as a catalyst for deeper economic integration and cooperation,” he stated.
Mr. Bharath Kumar Kuthati also highlighted the strategic importance of this partnership. “India and SADC have enjoyed a close relationship, and this MoU reinforces our commitment to work together for mutual benefit. We look forward to leveraging our collective strengths to achieve sustainable development goals,” he said.
Source: SADC
