New Delhi
3 July 2007
India will hope to make use of Portuguese presidency of the European
Union to tap Portuguese-speaking African countries for oil and uranium. With competition
hotting up for securing strategic oil reserves, and China aggressively promoting
petrodiplomacy in Africa, India expects to benefit from a triangular cooperation with
Portugal and Angola.
On July 1 Portugal took over the presidency of the EU for six months. The eighth EU --
India Summit will take place in November.
Sources tracking India's engagement with Portugal told this newspaper that oil
constitutes the backbone of the Angolan economy. It accounts for 42 per cent of Gross
Domestic Product and 90 per cent of its total exports. Angola produces about one million
barrels of oil per day. Portuguese oil companies have stakes in Angola. Similarly
Angolan oil companies have a stake in Portuguese oil companies.
The sources said that Angola has gas reserves estimated at 5,000 million cubic metres.
It is also rich in uranium. Angola wants to attract more investments in the mining sector.
The Angolan government intends to eliminate the State's monopoly on mineral rights and
open this sector to private investment.
Like Brazil in South America, Angola has a special link with Portugal. It was Portugal's
largest and richest African colony. Explored by a Portuguese navigator in 1482, Angola
became a link in trade with India and South-East Asia. Mozambique, Cape Verde and
Guinea Bissau are among the other former Portuguese colonies in Africa.
Minister of State of External Affairs Anand Sharma recently visited Angola and Portugal.
His was the first ministerial level visit from India to Angola in the last 17 years. He met
with the Angolan ministers of petroleum, and geology and mines. New Delhi has said
that the successful visit by Mr Sharma has "set the tone" for enhanced multisectoral
engagement between India and Angola in the fields of oil, mining, agriculture and
infrastructure.
In Portugal, Mr Sharma discussed bilateral relations and matters relating to economic
cooperation in the energy sector with particular emphasis on renewable energy. The
sources said that Indo-Portuguese bilateral relations rest on an even keel, remain close
and friendly and are free of any irritants. The Portuguese President visited India in
January this year. Portugal is credited for initiating the EU -- India dialogue. It held the
rotating presidency of the EU when the first EU -- India Summit was held in June 2000.
No comments:
Post a Comment