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“We Believe That There is a Huge Potential for Diversifying Bilateral Relations Between India and Mozambique”- Robert Shetkintong

“We Believe That There is a Huge Potential for Diversifying Bilateral Relations Between India and Mozambique”- Robert Shetkintong

The Mozambique Chamber of Commerce (CCM), in partnership with the Indian High Commission, organised a Business to Business (B2B) meeting this Tuesday (27) with the aim of fostering trade relations between the two countries.

The event, which took place at the CCM headquarters, brought together Mozambican and Indian businesspeople to explore opportunities for collaboration in areas of mutual interest, such as construction, packaging, agriculture, health, logistics and transport.

On the occasion, the President of the CCM, Álvaro Massingue, emphasised the strategic importance of the meeting, adding that the session was due to the willingness shown by the Government of India ‘to support Mozambican agricultural promotion and development, which could be beneficial in creating new business partnerships between our two nations’.

He emphasised the CCM’s commitment to creating an enabling environment for the business community of both countries to ‘explore and discuss the enormous potential that exists to promote mutual investments, as well as diversify the cycles of joint engagement in all parts of our economies’.

‘Mozambique is important for India’

For his part, India’s high commissioner, Robert Shetkintong, also emphasised the growing importance of trade relations between Mozambique and India. ‘Last month, the Bank of Mozambique released an article saying that during the first quarter of 2024, Mozambique’s exports to India were greater than to other countries,’ he revealed.

Shetkintong added that Mozambique’s exports to India accounted for 18.9 per cent of global exports, making it the national economy’s fourth largest trading partner.

‘That’s why we believe there is huge potential for diversification and improvement in bilateral relations, especially in sectors such as coal, gas, fishing and cashew plantations, products that Mozambique already exports to India.’

In conclusion, the Indian high commissioner encouraged the Indian business delegation to make the most of their visit to Mozambique, even suggesting that some businesspeople return to the Maputo International Fair (FACIM) to interact more deeply with the local business community.

‘I want to encourage the delegation from the Federation of Indian Export Organisations (FIEO) to use their time to see the broad possibilities for expanding Indian exports to Mozambique, especially in areas such as machinery, pharmaceuticals and engineering equipment.’

The B2B meeting takes place at a time when Mozambique is seeking to intensify its international trade relations, promoting the country as an attractive investment destination.

India is one of the country’s main trading partners

India has been one of Mozambique’s main trading partners in recent years. In 2022, the country exported 2.2 billion dollars to that market, of which 1.6 billion dollars corresponded to exports of mineral resources.

On the other hand, India’s investment volume in Mozambique over the last ten years (up to 2022) has 119 approved projects totalling 316.3 million dollars, placing it sixth on the list of the ten largest investors in the country.

Mozambique’s trade balance with India has totalled 5.8 billion dollars in the last five years, which means a growth of 5% or 15% of the total volume of exports, confirming the thesis that India is a strategic partner for Mozambique, the third largest in terms of exports.

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Florença Nhabinde

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