Karnataka - Bangalore

Zimbabwe looks to India for technology transfer

Special Correspondent

Bangalore: Zimbabwe, the first country in Africa to promote a "Look East Policy", hopes to exponentially increase its trade with Asian countries. It is looking for joint ventures and technology transfer from India in areas like mineral exploration, heavy equipment, high-end fertilisers, pesticides and industrial chemicals.

Phineas Chihota, Zimbabwe's Deputy Minister for Industry and International Trade, who is leading a 14-member trade delegation at the "The Partnership Summit 2007" organised by the Confederation of Indian Industry, said that his Government's efforts were to "promote and increase" business ties with Indian companies.

"The main pillar of Zimbabwe's economy is agriculture and we urgently need critical investment in this area, especially for agricultural equipment. We are looking for joint venture partnerships in areas like extraction of minerals. We have the minerals but not the skills or technology to extract them. We want the technology. India is both technologically strong and very competitive," the Deputy Minister said.

According to CII sources while exports from India to Zimbabwe in 2003-04 totalled $ 23.49 million, imports were to the order of $ 16.35 million.

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