Tuesday, 02 January 2024 12:17 GMT

India, Angola To Finalise USD 200 Mn Defence Loc & Boost Energy Ties: MEA


(MENAFN- KNN India) New Delhi, Nov 7 (KNN) India is preparing to enhance defence and energy cooperation with Angola ahead of President Droupadi Murmu's state visit to Angola and Botswana from November 8–13, the Ministry of External Affairs (MEA) said on Thursday.

Briefing reporters, MEA Secretary (Economic Relations) Sudhakar Dalela said defence collaboration and concessional financing remain key elements of India's partnership with Angola.

He noted that discussions are underway to finalise a USD 200-million Line of Credit (LoC) for defence cooperation, originally announced during Angolan President João Lourenço's visit to India earlier this year.

"We are in the middle of discussions with Angola now to finalise the LOC agreement. We feel that we will be able to partner with Angola in this important area of defence as per their requirements," Dalela said, adding that India continues to prioritise training and capacity building for partner countries across the Global South, ANI reported.

Energy security remains a central pillar of bilateral relations, with India-Angola trade valued at approximately USD 5 billion, of which nearly 80 percent is concentrated in the energy sector.

Dalela said India aims to add further momentum to this partnership, given Angola's role as a key energy supplier.

He also highlighted historical defence cooperation with Botswana, including a decades-long presence of an Indian military training team, and noted that nearly 750 professionals from Botswana have received training in India under the Indian Technical and Economic Cooperation programme over the past decade.

Looking ahead, Dalela identified critical minerals as an emerging focus area, aligned with India's National Critical Minerals Mission. He said discussions with African partners include potential joint ventures in mineral processing to support sectors such as electric mobility.

The MEA official added that India remains open to cooperation in emerging fields such as cybersecurity, and stands ready to consider infrastructure development requests through LoC or grant support.

(KNN Bureau)

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