Mozambican products to have free market access in the European Union

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Mozambican products to have free market access in the European Union

1:09 CAT | 09 Oct 2017

Products from Mozambique will have access to the European Union market without the imposition of quotas or payment of customs duties, said the national director of Foreign Trade, Amílcar Arone, during a seminar held in Maputo.

Arone spoke at a seminar on the EU-SADC Economic Partnership Agreement between the Southern African Development Community (SADC) and the European Union (EU) in a debate on “Opportunities for Mozambique,” according to Mozambican daily newspaper Noticias.

“The agreement aims to promote economic growth by establishing a free trade area that will allow Mozambique to access the European market on a preferential basis,” said the national director of Foreign Trade.

He also said that the European Union had agreed to the removal of customs duties on a wide range of products and is open to original products from Mozambique, which will allow national exporters the opportunity to improve their competitiveness in that market.

The European Union is a major trading partner of Mozambique, and is one of the country’s top export destinations and the fourth largest importer, after China, South Africa and India.

Mozambique exports to the European Union mainly aluminium, agricultural products such as sugar, tobacco, nuts and vegetables, as well as fish products, notably shrimp and imports manufactured goods, machinery, means of transport and chemicals.

Although Mozambique’s trade balance shows a deficit in recent years, the balance of trade with the European Union remained positive due to the value of aluminium exports to that market, according to data from the EU delegation in Maputo.

Source: Macauhub