CTA – Confederation of Economic Associations of Mozambique said today that it wants to strengthen partnerships and economic ties with India, aiming at the “accelerated recovery” of the economy of the two countries, given the impacts of the new coronavirus.
“We therefore look forward to strengthening business partnerships, either by strengthening existing economic ties or by exploring new opportunities that can contribute to relaunching development projects that help to accelerate the recovery of the economy of our countries,” said the president of CTA, Agostinho Vuma.
“We are therefore looking forward to strengthening business partnerships, both by strengthening existing economic ties and by exploring new opportunities that can contribute to relaunching development projects that help an accelerated recovery of our countries’ economies,” said CTA president Agostinho Vuma.
The president of the main Mozambican employers’ confederation was speaking during the Mozambique-India Business and Investment Forum, held today in Maputo.
For Agostinho Vuma, India “can play a very important role” for the development of the country’s economy in the face of the challenges imposed by the covid-19, as well as in promoting and stimulating the private sector in responding to the problems that the economy faces.
“We are certain that this forum could be an important and productive step in responding to the challenges for a resilient economy to the negative factors of the covid-19 pandemic,” he said.
Highlighting the gains in trade between Mozambique and India, the Mozambican employer also suggested expanding investments for the industry of basic chemicals, cosmetics and dyes, considering that it has seen a growing market in the country.
“A strong implantation of the chemical industry in Mozambique, specifically focused on the production of manure and fertilizers, can result in considerable benefits for our agriculture”, said Agostinho Vuma, suggesting the diversification of the range of products that form the basis of trade between the two countries.
“Together we can go far and be stronger than all the challenges,” he concluded.
The latest data on economic relations indicate that Mozambique and India reached around 1.7 million euros in trade in 2018, up from 1.5 million in the previous year.
Coal, cashews and beans are among the main products that India buys from Mozambique.
