To address common issues, External Affairs Minister S Jaishankar has extended India’s knowledge to Central American nations in the areas of information technology, digital payment systems, agribusiness, and pharmaceuticals.
“Our countries face similar challenges, such as development, poverty alleviation, and climate change, and we can address these more effectively if we address them together,” he said during the Fifth India-SICA Foreign Ministers Meeting held here on Thursday.
“We are confident that this collaboration will yield concrete results that will support a more multipolar, equitable, and inclusive global order,” he stated.
“We would definitely like to advance in the areas of digitalization, renewable energy, food and health security, and climate action,” he continued.
The Central American Integration System (abbreviated SICA from its Spanish name) is an eight-member organization that promotes political and economic integration in the region.
In 2004, India started collaborating with the organization at the ministerial level.
According to Jaishankar, India’s collaboration with the group has greatly expanded as they have worked together to solve issues like energy security, digital transformation, post-pandemic recovery, development financing, and climate change.
The Unified Payments Interface (UPI), an Indian-developed digital payments interface, has “had great success in ensuring a seamless, real-time, and secure method of transferring funds,” he said.
He said that as a result of this system, over half of all cashless transactions worldwide now occur in India.
According to him, the private sector in India is interested in making investments in SICA nations, especially in “sectors where India has been historically very strong,” such as IT, renewable energy, agriculture, and medicines.
Regarding other potential areas of collaboration, he stated that “many of our companies have developed a footprint in these three areas – solar, green hydrogen, and bioenergy – worldwide” as the globe battles climate change.
Recalling how India bolstered ties with the area during the Covid pandemic by providing vaccines, Jaishankar stated that India is prepared to collaborate with SICA to boost affordable healthcare and fortify public health systems.
India delivered vital medications, relief supplies, and emergency aid “as a gesture of solidarity” to the SICA countries last year when storms severely damaged their infrastructure and means of subsistence, he said.
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