This Monday in Maputo, the governments of Mozambique and France came out in defense of the intensification and diversification of investment and bilateral trade, examining the existing potential between the two countries.
“The potential and competitiveness that France offers in terms of capital, technology and expertise make it a privileged partner for Mozambique,” said Mozambican Minister of Industry and Trade Silvino Moreno.
Moreno spoke at a business forum between Mozambique and France, which took place this Monday and Tuesday in Maputo.
He added that Mozambique is counting on French investors to industrialize the country to reduce dependence on raw material exports in order to sell more value-added processed products.
Agriculture, energy, infrastructure, industry, minerals and tourism are areas with huge investment potential in the African country, Silvino Moreno emphasized.
The Minister of Industry and Trade indicated that the country wants to reduce the trade imbalance with France by selling more to its European partner.
Between 2018 and 2019, he continued, Mozambique exported about US$200 million (€181.7 million) to France and imported about US$700 million (€636 million) from that country, illustrating huge asymmetry in the trade balance between the two countries, stressed the Minister of Industry and Trade of Mozambique.
For his part, French Ambassador to Mozambique Jan Prado noted that both countries should capitalize on the momentum created by French multinational TotalEnergies’ colossal investment in natural gas exploitation in the Rovuma basin to boost bilateral economic and business relations.
“The dynamics of Franco-Mozambican partnerships are here. This dynamic is symbolized by one of the largest investments by the French company TotalEnergies,” Prado stressed.
The diplomat noted that the Mozambican authorities have taken measures to make the African country more attractive for business, such as exemption from short-term business visas, as part of the Economic Acceleration Package (PAE) approved in August.
“The Government of Mozambique has recently announced several decisive measures to encourage foreign investment,” said the French Ambassador to Maputo.
Agostinho Vuma, president of the Confederation of Economic Associations (CTA) of Mozambique, the largest business association in the country, has defended that the Mozambican executive should do more to create a more favorable environment for foreign investment, namely by adopting more attractive rules and streamlining the regime exchange rate for capital inflow and outflow.
According to him, the adoption of these instruments “will reduce the uncertainty” regarding investments.
The forum, which started this Monday, is attended by 70 businessmen from mainland France and from the territories of the Reunion and Mayotte islands located in the Indian Ocean, but controlled by Paris.
About 50 businessmen are taking part in the conference from the Mozambican side.
Author: Portuguese
Source: CM Jornal
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