Mozambique’s trade balance with African countries grew by 66% in the last five years, reaching an export volume of 6.2 billion euros, the government announced at the launch of the continental free trade area agreement.
‘Mozambique’s trade balance with other African countries has grown by 66% in the last five years, with total exports worth US$1 billion [€6.2 billion],’ said Mozambique’s Prime Minister Maria Benvinda Levi today in the city of Beira, Sofala province, central Mozambique. 7.1 billion US dollars [6.2 billion euros],’ said Mozambique’s Prime Minister Maria Benvinda Levi today in the city of Beira, Sofala province, in the centre of the country, where she launched the African continental free trade area agreement.
In her speech, the prime minister defended the exploration of the continental market by all countries, noting that it constitutes a strategic opportunity for the internationalisation and productive specialisation of the economy and the national private sector.
The Mozambican authorities announced in Beira that the country will now trade with 47 African countries under the African Continental Free Trade Area agreement.
‘Under the African Continental Free Trade Area agreement, last year we submitted our tariff offer, which was approved last February by the Heads of State and Government of the African Union, creating conditions for our country to trade with around 47 African countries that are part of this initiative,’ said Maria Benvinda Levi.
For the minister, the initiative will boost Africa’s competitiveness in trade, making it a benchmark in the global economy by promoting and enhancing the comparative and competitive advantages of African countries’ value chains.
According to the minister, the agreement signed ensures the free movement of people and goods, the promotion of business and investment, and contributes to boosting industrialisation in our African countries by adding value to the abundant natural resources and raw materials we have.
‘To leverage industrialisation on our continent, it is important to ensure continuous innovation, improvement of the business environment, technological modernisation and development of support infrastructure, as well as the industrial and commercial competitiveness of our countries,’ she stressed.
Among the gains, he listed balanced trade balances, increased intra-African trade, as well as the creation of employment opportunities and income generation within African countries.
‘The operationalisation of the African Continental Free Trade Area is a unique opportunity for the building and consolidation of one of the world’s largest markets, as well as for the strategic internationalisation of the productive potential of African countries,’ said Levi.
Lusa
