Mozambican entrepreneurs applaud cooperation with India

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Mozambican entrepreneurs applaud cooperation with India

11:57 CAT | 29 Nov 2018

Eduardo Sengo, File photo: O País

The Executive Director of the Confederation of Economic Associations of Mozambique (CTA) told Lusa today that the visit of Foreign Minister Jose Pacheco and a Mozambican business mission to India reflects the great extent and reciprocity of interests between the two countries.

“India and Mozambique share vast economic, investment and trade interests in a reciprocal way,” said the executive director of CTA, the largest Mozambican employers’ association, Eduardo Sengo.

Mozambique has an important market in India, Sengo pointed out. “India buys almost exclusively the Boer beans produced in Mozambique, as well as important quotas of cashew and mineral coal,” he said.

India’s interest in Mozambique’s energy sector has led Indian companies to invest in coal production in Tete province and to integrate consortia in the Rovuma basin in the north of the country, he added.

“India relies on coal and natural gas from Mozambique to consolidate the momentum of its industrial development,” noted Eduardo Sengo. In turn, Mozambique has an interest in buying India’s equipment. “The interests are vast and reciprocal,” said the executive director of CTA.

The Minister of Foreign Affairs and Cooperation of Mozambique, José Pacheco, began yesterday a two-day official visit to India to strengthen and deepen relations of friendship and bilateral cooperation, according to a government statement.

Source: Lusa