Endiama to Open India Office, Seeks Indian Collaboration in Diversification Plans

Angolan state-run diamond miner Endiama has announced plans to open an office in Mumbai within the next year and to send a delegation to India to finalize details. The office is expected to commence direct sales of rough diamonds to the Indian industry in early 2009.

The move was announced by India’s minister of State for Commerce, Jairam Ramesh, following a meeting with the Endiama President Manuel Aranaldo de Sousa Calado. Ramesh was heading a business delegation to Naimbia and Angola that included senior representatives of the Gem and Jewellery Export Promotion Council (GJEPC).

The delegation also proffered that India could partner with Angola at the World Diamond Summit to be held for the first time in Luanda in 2009, Ramesh told the media, adding that India has also invited Angolan President Jose Eduardo dos Santos to be the chief guest at the GJEPC's "Mines-to-Market" conference, to be held in Mumbai in early 2009.

Diamond India Ltd, a company formed by over 60 diamond manufacturing firms in India, will also meet with Endiama to discuss setting up a cutting and polishing centre and jewelry manufacturing facility in Luanda.

India and Angola will organize a Joint Economic Commission to enhance bilateral trade relations, particularly in oil, natural resources and infrastructure. "The first meeting of the joint commission is likely to be held in October this year in Luanda. The commission will be an umbrella body that will facilitate bilateral cooperation in various sectors," Ramesh said after meeting Angolan Vice Minister for External Relations Alexandre Da Silva Neto.

The two countries also agreed to work out an agreement for cooperation in the mining sector. "The agreement, likely to be signed at the meeting of the joint commission in October, will open the door for Indian participation in the Angolan coal, iron ore and mineral sectors," Ramesh said.

During the discussions, the Endiama President also sought the Indian government’s assistance in helping the mining corporation set up a joint venture manufacturing facility in Angola in partnership with the Tata group for manufacturing commercial vehicles and helicopters.