DHL banking on India/Africa trade growth

DHL banking on India/Africa trade growth    DHL said Monday it would increasingly look to India/Africa trade to drive growth in coming years.
   The global express and logistics company said trade between the regions has increased from $9.9 billion in 2005 to $39 billion in 2009, and looks set to expand further based on joint commitments to reduce trade barriers.
   In particular DHL noted oil and gas products are fueling growth in trade between India and Africa.
   'Since 2004-2005, petroleum products have emerged as the largest items in India's exports to Africa, accounting for 22.2 percent of India's total exports to Africa from 2008-2009,' DHL said. 'This trend is mirrored in India's imports from Africa — petroleum dominates as the major item imported from Africa, accounting for 58.6 percent of India's total imports from Africa from 2008-2009.'
   Aside from significant investment in both regions, DHL said it has established 'India desks' in 10 African countries, with plans for more in 2011.
   'Logistics is a powerful economic enabler and forms one of the fundamental building blocks of external and internal trade,' Amadou Diallo, chief executive officer, Africa and South Asia Pacific, DHL Global Forwarding, said at a World Economic Forum meeting New Delhi last week. 'Africa is a key emerging market, with air cargo and ocean freight volumes between India and Africa expected to grow 9.8 percent and 9.2 percent (compounded annual growth rate) from 2009 to 2015, respectively.'