Mozambique: Minimum wage increases of between five and 12 per cent - AIM report
Photo: Presidencia da Republica de Moçambique
Mozambique’s president Filipe Nyusi on Wednesday said that Africa should be firmer in defending its commercial interests, negotiating better advantages for the continent, by investing in creating a business-friendly environment.
“We Africans should create more assertive strategies in defending our interests and negotiate in the best possible way with our partners,” Nyusi said, speaking at the opening of the U.S.-Africa Business Summit, which began on Wednesday in Maputo.
Nyusi said that in order to be in a position of greater advantage, Africa must invest in the creation of a more welcoming climate for private investment and business.
He pointed as crucial measures for a friendly business environment the creation of macroeconomic stability, for low and stable inflation, as well as the approval of flexible exchange legislation that would accelerate the repatriation of dividends.
Despite the importance of foreign trade, the continent must also explore the potential for partnerships between African countries.
The full exploitation of economic and business opportunities in Africa will depend on the overcoming of shortcomings on the infrastructure level, Nyusi added.
As for commercial cooperation with the US, Nyusi pointed out the progress that has been made between the two blocks, emphasising that in recent decades, the volume of trade has gone from $49 billion (€43.7 billion) to $62 billion (€55.3 billion).