Mozambique: CTA workshop on Local Content Law
Trade between Mozambique and India: There is potential for diversification – minister
4:32 CAT | 15 Dec 2020
This was the first ever virtual conference between India and Mozambique on Chemical Sector. [Photo courtesy: CTA]
Mozambique’s Minister of Industry and Commerce, Carlos Mesquita, says that India has been one of Mozambique’s main trading partners and, in 2018, occupied second place by volume at an estimated US$1.882 billion .
Much of the volume of trade between both countries (76%) represents exports from Mozambique to that Asian country, giving a trade surplus in favour of Mozambique. Coal, cashew nuts and pulses predominate among the exports.
High Commission of India in collaboration with Mozambique Chamber of Commerce and Industry (CTA) and CHEMEXCIL , India, organized a first ever virtual conference between India and Mozambique on Chemical Sector on 14th December 2020.@MEAIndia @DoC_GoI @chemexcil @CTA__Official pic.twitter.com/9Jt9AVB71h
— India in Mozambique (@IndiainMoz) December 15, 2020
Speaking during the opening of the first ever virtual conference between India and Mozambique on Chemical Sector in Maputo this Monday, Minister Mesquita said he believes that there is potential for the diversification in the products forming the basis of bilateral trade.
“A strong chemical industry presence in Mozambique, specifically focused on the production of manures and fertilisers, can result in considerable benefits for Mozambican agriculture, ensuring greater productivity of fertile and arable land,” the minister suggested, challenging Chemexcil (India’s Basic Chemicals, Cosmetics & Dyes Export Promotion Council) to develop and increase its investments in this industry and throughout the value chain.
Chairman Chemexcil Shri Ajay Kadakia says India enjoys warm and substantive ties with Mozambique during inaugural of virtual buyer seller meet of Chemicals organized by CHEMEXCIL with active support of HCI, Maputo Mozambique, Mozambique Chamber of Commerce & Industry and CTA pic.twitter.com/XDCBGVAHUZ
— CHEMEXCIL (@chemexcil) December 14, 2020
In another development, Carlos Mesquita said he believed that India, being a developing country, can help the Mozambican private sector respond to the problems facing the economy.
“We hope that this reflection will help bring the answers that our economic sector must produce in the face of the challenges of maintaining productive activity and jobs, for strengthening our economy and promoting social balance, taking into account that the employment and productivity are effective ways of ensuring the social stability of societies,” Mesquita said.
The three-day virtual meeting takes place under the motto “Fostering business ties in the chemical sector between Mozambique and India”.
India’s High Commissioner Rajeev Kumar pointed out to participants that “Indian investment in Mozambique exceeds US$7 billion, representing 25% of India’s total investment on the African continent”.
Also read: 25% of India’s total investment in Africa came to Mozambique: More than US$8 billion
“India has development exposure in the form of concessional credit lines worth more than US$772.44 billion in areas of public impact, such as energy, roads, IT and technology and water supply, among others, and has offered donations of millions of dollars to help Mozambique in the processing of cashew, cotton, etc.,” Kumar observed.
Regarding the forum, the High Commissioner of India in Mozambique said there was a huge lack of information between the two countries. Events like this, he said, would help fill these information gaps, and allow the exploitation of the existing potentials between the two countries.
Shri Suresh Kumar, IAS, Jt. Sec. from DOC, GoI welcoming the participants of Virtual buyer seller meet of Chemicals jointly organized by CHEMEXCIL with active support of High Commission of India, Maputo Mozambique, Mozambique Chamber of Commerce & Industry and CTA pic.twitter.com/xMXkvU6HAz
— CHEMEXCIL (@chemexcil) December 14, 2020
Shri Rajeev Kumar High Commissioner of India in Mozambique, giving welcome remark to the participants of virtual buyer seller meet of Chemicals jointly organized by CHEMEXCIL with active support of HCI, Maputo Mozambique, Mozambique Chamber of Commerce & Industry and CTA pic.twitter.com/rTj04CLvRQ
— CHEMEXCIL (@chemexcil) December 14, 2020
Source: O País
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