Mozambique inks investment protection agreement with Singapore

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Mozambique inks investment protection agreement with Singapore

3:57 CAT | 24 Aug 2016

Chanel News Asia / (L to R) Singapore's Trade and Industry (Industry) Minister S Iswaran, Deputy Prime Minister Tharman Shanmugaratnam and Mozambique's Minister of Trade and Industry Ernesto Max Elias Tonela.

The Mozambican Minister of Industry and Trade, Max Tonela and his Singaporean counterpart Lim Hng Kiang will today (August 24) sign an agreement for the promotion, facilitation and reciprocal protection of investments, an instrument that will boost economic cooperation between the two countries.

The Ministry of Industry and Trade press release sent to AIM reveals that Minister Tonela is in Singapore for the Ministerial Forum on Experience Exchange between the island nation and ten sub-Saharan African countries, held under the banner “Singapore and Africa: Partnership for Sustainable Development”.

The forum’s opening session was addressed by the Singaporean Minister of Foreign Affairs, Vivian Balakrishnan, who stressed the importance of partnerships between countries in the implementation of the Sustainable Development Goals adopted by the United Nations in 2015, and acknowledged that “there are no universal models that serve to all countries, hence the urgent need to exchange ideas and experiences on ways to achieve sustainable development”.

Wednesday’s program also includes a business forum with South Africa, Botswana, Cape Verde, Ivory Coast, Ethiopia, Ghana, Mauritius, Mozambique, Tanzania, Uganda and Zimbabwe and Singapore represented.

During the event, participants will have the opportunity to visit and interact with various Singaporean institutions and organisations, including the Academy of Civil Aviation, the Central College of Technical and Professional Education, the Dam and Water Treatment Centre and the Urban Planning Center.

Source: AIM