May 23, 2011 7:34 PM

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Need to channelize India’s economic progress and Africa’s robust resurgence: S. M. Krishna

External Affairs Minister Mr S.M. Krishna has said India and African need to work towards carving their rightful places in the emerging global order. Speaking at the Foreign Minister’s meeting of the 2nd Africa India Forum Summit at Addis Ababa on Monday he said India’s economic progress and Africa’s robust resurgence in recent years need to be channelized towards this end.Expressing satisfaction on the implementations of the commitments made during the first summit in New Delhi, Mr Krishna said out of 5.4 billion dollars concessional lines of credit announced, nearly 2 billion worth of projects have been committed. He said 19 least developed countries in Africa have already availed the benefits of the Duty Free Tariff Preference announced by India in the last summit.At the meeting, a Memorandum of Understanding to establish fourteen capacity building institutions in various member states of the African Union was signed.

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