Asia Africa Growth Corridor
Asia Africa Growth Corridor is a joint initiative of India and Japan. It was launched in May 2017. Its detailed roadmap has been prepared by three agencies viz. Research and Information System for Developing Countries (RIS) New Delhi, the Economic Research Institute for ASEAN and East Asia (ERIA) Jakarta, and Institute of Developing Economies (IDE-JETRO) of Tokyo.
The basic endeavour of this project is to rediscover ancient sea routes and creating new sea corridorswhich link African continent with India and countries of South Asia and South-East Asia. The prime focus of this project are on four areas as follows:
- Development and cooperation projects
- Quality infrastructure and institutional connectivity
- Capacity and skill enhancement
- People-to-people partnerships.
The ultimate objective of this corridor is to build a robust institutional, industrial and transport infrastructure in growth poles among countries in Asia and Africa. India will contribute by modernizing its own sea ports under the Sagarmala Project and also helping economies of Africa in development of sea ports. Japan will contribute to the project through its state-of-the-art technology and ability to build quality infrastructure.
Topics: Asia , Asia-Africa Growth Corridor , Association of Southeast Asian Nations , Economic Research Institute for ASEAN and East Asia , infrastructure , Institute of Developing Economies , Japan External Trade Organization , Organizations associated with the Association of Southeast Asian Nations , Sagar Mala project