Mozambique’s ambassador to China, Maria Gustava, on Friday, June 2, in Beijing called for greater access to the Chinese market for Portuguese-speaking products, as well as more flexible rules for the China-Portuguese-speaking Countries Cooperation and Development Fund.
Speaking at the 14th International Forum on Investment and Infrastructure Construction (IIICF), the diplomat said it was important to expand the areas of Chinese investment in the country, particularly in the agricultural sector, which will allow many products to be exported.
Gustava called on Chinese companies to make the most of the enormous potential and areas for investment in Portuguese-speaking countries, particularly Mozambique, adding that they presented great opportunities.
“It is with great satisfaction that we welcome China’s willingness to expand cooperation in the area of infrastructure, as it will speed up the development of many countries that still lack health posts, schools and more,” he said.
Mozambique’s representative in China called for greater flexibility in access to funds, pointing to the need to make some changes to the China-Portuguese-speaking Countries Cooperation and Development Fund in order for it to be more effective.
In his turn, the president of the Fund, Shi Wenju, admitted that the Fund could be managed more flexibly to motivate more companies to pool their interests and explore investment opportunities in island countries.
“Companies interested in obtaining support must guarantee a minimum investment of five million dollars and the Fund finances 20 percent,” he clarified.
In December last year, China eliminated customs duties for 98 percent of products imported from Guinea-Bissau and Sao Tome and Principe, a measure that in September had already been applied to Mozambique.
Worth almost a billion euros, the China-Portuguese-speaking Countries Cooperation and Development Fund was created almost ten years ago by the China Development Bank and the Macau Industrial and Commercial Development Fund.
