Argentina wants to strengthen business cooperation with Mozambique – Watch

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Argentina wants to strengthen business cooperation with Mozambique – Watch

4:13 CAT | 26 May 2022

Photo: CTA

Mozambique is one of the main markets for Argentine wheat, with both parties saying that efforts are underway to establish partnerships in the cereal production and development value chain.

The government of Argentina intends to increase the volume of trade between its own entrepreneurs and Mozambique, Argentine ambassador in Maputo, Juan Jorge Nunes, has said, and is also interested in increasing direct investment in Mozambique.

The diplomat was speaking in Maputo a few days ago, after a meeting with the board of directors of the Confederation of Economic Associations of Mozambique (CTA), to which he expressed the willingness of the Argentines to cooperate with the national private sector in the search for markets, and to stabilise wheat supply to the country.

Juan Jorge Nunes explained the two parties agreed to organise meetings between national and Argentine businessmen interested in investing in Mozambique.

“The passenger vehicle market is attractive to Mozambicans and could be one of the drivers of bilateral trade. What is needed is to find the financial instruments to support partnerships,” he said.

Mozambique is one of the main markets for Argentine wheat, with both parties saying that efforts are underway to establish partnerships in the cereal production and development value chain.

#diplomaciaeconómicahttps://cta.org.mz/cta-e-embaixada-da-argentina-acordam-em-cooperar-na-busca-de-mercados-e-estabilidade-de-fornecimento-do-trigo/ pic.twitter.com/h6DCG7OeJq

— Agostinho Vuma (@VumaAgostinho) May 25, 2022

CTA figures estimate the volume of commercial transactions between Mozambique and Argentina (exports and imports) at around US$60 million. About 95% of this is accounted for by Mozambican imports of food products, including wheat and cooking oil.

Mozambique’s exports include movable goods and their components, plastic works, books, rugs, knitwear for women, curtains, blinds, tableware, household items and mirrors, among others.

“Given the type of exports, it is clear that we can do more. The Argentine market has a particular appetite for Mozambican decoration and art products. One example of this is furniture, with this country making products of wood, porcelain and clay that are highly appreciated in Argentina,” CTA president Agostinho Vuma noted.

The CTA also highlighted the need for governments of the two countries to sign bilateral agreements encouraging the supply of products at competitive prices.

Source: Noticias