UK says Mozambique must overcome military insecurity and economic uncertainty

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UK says Mozambique must overcome military insecurity and economic uncertainty

3:34 CAT | 15 Sep 2016

Noticias / British High Commissioner to Mozambique Joanna Kuenssberg (second from the left), British Prime Minister Trade Envoy Richard Benyon ( third from the left) and Mozambican Prime Minister Agostinho do Rosário met yesterday in Maputo

Mozambique must overcome military insecurity and economic uncertainty in order to attract investment and international trade, British trade envoy Richard Benyon, said in Maputo yesterday.

Speaking to journalists after a meeting with Mozambican prime minister Carlos Agostinho do Rosario, Benyon said investors will be reluctant to invest in Mozambique while the political, military, economic and financial crisis prevail.

“The instability and uncertainty in the economy is what concerns business men and women at this time. If this is overcome, the potential is huge,” Benyon said.

Benyon urged the Mozambican authorities to find a solution to the current political and military crisis, emphasizing that the restoration of stability is crucial for economic development.

Mozambique’s huge hydrocarbons reserves, he went on, generated expectations of a bright future in the medium and long term for the country and the UK was ready to help.

“Forty years ago, we discovered hydrocarbon reserves in the North Sea and had no experience, and we had to rely on outside help. Now is our chance to help a friendly country to explore the huge reserves that will so benefit the people of Mozambique,” he said.

Benyon also indicated trade and technical and vocational training as areas of great potential in UK-Mozambique cooperation.

Source: Lusa