Mozambican and Tanzanian businesspeople are holding a preparatory meeting on business and investment. The meeting, which takes place in the city of Dar-es-Salaam, is part of the three-day visit by the President of Mozambique, Daniel Chapo, to the United Republic of Tanzania, in response to an invitation extended by his counterpart Samia Hassan.
According to the Minister of Economy, Basílio Muhate, the goal is to strengthen economic cooperation between the two countries. “Mozambique shares a vast border with Tanzania, so it is in our interest to strengthen partnerships and improve trade.”
Muhate explained that there is a trade deficit in the balance of transactions with Tanzania, and there is a need to encourage more Mozambican entrepreneurs to contribute to increasing exports to the neighboring country.
“We are also focused on investments and incentives for Small and Medium Enterprises, which are crucial for economic development and improving the business environment.”
In Tanzania, the Mozambican government is seeking experience in the agricultural sector, particularly in the production and marketing of soybeans, coffee, and cashew nuts. It also has interests in the extractive industry and in resuming the implementation of the single-stop border system linking the two countries.
Last year, the President of Tanzania, Samia Suluhu Hassan, reported that trade between her country and Mozambique reached 3.6 billion meticals (57.8 million dollars) in 2023, and by mid-2024, it stood at 1.2 billion meticals (20.1 million dollars).
Diplomacy between Mozambique and Tanzania has been characterized by a historic and strategic alliance, established soon after independence in 1975.
