Mozambique businesses call for lower tax burden to drive private investment
About 15% of Mozambique’s exports went to India in the last five years – Government
5:51 CAT | 26 Jul 2023
Photo: Twitter / @IndiainMoz
Mozambique exported nearly US$6 million’s-worth of goods to India in the last five years, around 15% of the total volume of exports, the Minister of Industry and Commerce said on Wednesday, highlighting that India is the country’s third largest strategic partner.
“In the last five years, our trade balance has seen India as a strategic partner for Mozambique, the third largest partner in terms of exports, for a total of US$5.8 million (€5.2 million), with growth of 5%, corresponding to 15% of the total volume of exports,” Silvino Augusto José Moreno declared.
The minister was speaking remotely at the opening of the Mozambique-India Expo, a two-day event that brings together business people from both countries in the Mozambican capital, Maputo, to discuss investment strategies.
For the Minister of Industry and Commerce, the good relations that exist between the two countries offer the possibility of materialising numerous opportunities, highlighting the growing presence of large companies from India in the area of mineral resources and health.
“The competitive, enterprising and diversified capacity that India has in terms of capital, technology, experience and partnership, makes it a privileged partner for Mozambique,” he added.
India is sixth on the list of the biggest investors in Mozambique, with coal, cashew nuts and beans among the main products it buys from Mozambique.
According to the Mozambican National Institute of Statistics (INE), India was, in the first quarter of 2020, Mozambique’s second largest trading partner, after South Africa, both in terms of imports and exports.
High Commissioner was delighted to inaugurate the 1st India-Mozambique Trade Fair in Maputo under the Indian Business Council. Overwhelming participation by businessmen from both countries promised to catalyse further enhancement of bilateral trade & investment pic.twitter.com/teYhXmVFKt
— India in Mozambique (@IndiainMoz) July 25, 2023
Source: Lusa
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