The Minister of Economy, Basílio Muhate, stated on Monday (20 October) in Geneva, Switzerland, that the multilateral system — a set of international rules and institutions created to promote economic and trade cooperation among nations — has left least developed countries, such as Mozambique, in a vulnerable position, as major economies impose reforms that primarily serve their own interests.
“The global multilateral system is dangerous because the largest economies impose reforms that serve their own interests, and we, as less developed countries, are being affected. Our planning strategies are being compromised by these uncertainties,”
said the minister during his address at the 16th United Nations Conference on Trade and Development (UNCTAD), taking place in Geneva.
Muhate explained that Mozambique’s development strategies, which include “structural projects in agriculture, industrialisation, and other areas,” are being seriously affected by the current international context. The minister emphasised that global uncertainty has led many investors to adopt a cautious stance, limiting market access and reducing investment flows into the country.
Despite these challenges, he assured that Mozambique remains determined to overcome the obstacles and has already launched a new development plan for the coming years.
“This plan involves major reform efforts across various sectors, including trade, investment, and economic diversification — with a special focus on tourism,” he said.
According to Muhate, tourism is one of the government’s main priorities, both for its internal potential and for the synergies it can create with trade.
“Tourism is a major challenge for us,” the minister noted, adding that the country “is focusing on tourism due to its potential and the impact that trade can have on the sector.”
He also highlighted Mozambique’s significant investments in strategic sectors such as energy, communications, and logistics, which are considered essential for sustaining economic growth and creating better conditions to attract foreign investment.
The minister further defended the need to strengthen local capacities, particularly through the training of professionals capable of implementing ongoing reforms and ensuring that the country can fully benefit from its potential.
“We also need to strengthen our negotiating capacity when it comes to trade agreements,” he emphasised.
Muhate concluded his speech by underlining the importance of UNCTAD in providing technical and policy support to developing countries.
“Mozambique has several agreements with different countries, and therefore, UNCTAD’s role is fundamental — both in assisting negotiations and in providing technical support for the reforms the country is pursuing,” he stated.
The 16th session of UNCTAD is taking place from 20 to 23 October in Geneva, under the theme “Shaping the Future: Driving Economic Transformation for Equitable, Inclusive and Sustainable Development.”
Source: Lusa
