Mozambique: Beira businesspeople threaten to boycott CTA elections - AIM
Mozambique reaffirms commitment to US-Africa trade ties at Luanda business summit
2:18 CAT | 26 Jun 2025
Photo: Ministério da Economia
Mozambique’s Minister of Economy, Basílio Muhate participated in a roundtable discussion on the theme “Paths to Prosperity: A Common Vision on Trade and Investment” at the US-Africa Business Summit in Luanda, Angola.
The event brought together high-level representatives of African governments and the United States, including ministers of economic and trade areas, as well as from the African Union.
During his speech, Minister Muhate highlighted the importance of the African Growth and Opportunity Act (AGOA) as a structuring instrument for trade relations between the continent and the US.
“The African Growth and Opportunity Act (AGOA) has been the cornerstone of relations between Africa and the US in recent years. Since its entry into force in 2000, AGOA has encouraged American companies to conduct business and invest in Africa, including Mozambique.”
The Mozambican leader stressed that, in order to strengthen trade and investment relations, it is crucial to incorporate the recommendations emerging from the AGOA forums and the US-Africa leaders’ summits, with a special focus on extending AGOA for at least another 10 years.
“The main message left and reiterated by African leaders of AGOA beneficiary countries is the need for an unconditional extension of AGOA for a minimum period of 10 years, in order to provide the necessary predictability and security to the markets.”
Another point highlighted by the minister was the articulation between AGOA and the African Continental Free Trade Area (AfCFTA).
“It is essential to allow the cumulation of AGOA with all AfCFTA signatories, which would align the two instruments through the acceptance of the AfCFTA rules of origin.”
Regarding the future of AGOA, Minister Muhate called on the United States to adopt a more development-focused approach.
“The ministers continue to call on the US to ensure that AGOA has a development dimension, particularly in relation to the development of infrastructure, manufacturing industries and technology transfer.”
Mozambican representative also advocated the institutionalization of a permanent forum between the US and the African Union.
“We would like to recommend that there be a more formal and comprehensive engagement with the US, under the auspices of the African Union, through an official annual forum, similar to what they already have with China, Europe and Japan.”
Regarding Mozambique’s political and economic environment, the minister assured investors that, despite the current challenges, the country remains stable and attractive.
“Despite the impacts caused by the post-election demonstrations and some terrorist hotspots in Cabo Delgado, Mozambique is a safe and attractive destination for investment due to its location and logistics services.”
The minister also highlighted the country’s positive economic performance.
“Since 2022, our country has been part of the club of major exporters of Liquefied Natural Gas. The Government expects average growth of up to 3% for this year, driven by sectors such as the extractive industry (5.4%), construction (3%), agriculture (3%) and transport and communications (2.6%).”
Mozambique’s presence at the summit reaffirms the country’s commitment to deepening partnerships with the US, taking advantage of the potential synergies between AGOA and AfCFTA to boost sustainable economic and regional development.
Source: Ministério da Economia / Media Release
Show comments
Also read
Leave a Reply
Be the First to Comment!
You must be logged in to post a comment.
You must be logged in to post a comment.