Agricultural products from Angola and Mozambique will be traded in both countries

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Agricultural products from Angola and Mozambique will be traded in both countries

11:15 CAT | 05 Nov 2016

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Agricultural products from Mozambique will be marketed in Angola and vice versa under a memorandum of understanding signed between the Commodity Exchange of Mozambique (BMM) and the Angola Capital Market Commission (CMC), the Mozambican press reported.

The president of the BMM, Antonio Grispos said that the document will strengthen trade, since the products of the two countries will be traded on the stock market, which is an open and transparent market.

The signed agreement gives priority initially to agricultural products, and according to Grispos, this sector was selected because it covers most of the Mozambican population.

The choice of the agricultural sector by the CMC was due to the need to diversify the Angolan economy, due to the dependence the country has on the oil industry.

The executive director of the CMC, Elmer Serrão, said at the time that in addition to promoting the exchange of goods, this partnership represents an opportunity for the “CMC to learn from BMM, so that we can set up our own exchange in the future.”

Source: Macauhub