Mozambique and Malaysia want to boost trade ties

9 August 2007

Maputo, Mozambique, 9 Aug – Total two-way exchanges between Mozambique and Malaysia in 2006 were US$ 26.5 million, an increase of 463 percent to the US$ 4.7 million registered in 2001, according to official figures.

However, exports from Mozambique to Malaysia only accounted for US$ 1.9 million of total bilateral trade last year. Mozambique currently sells agricultural products to the Asian state like cotton, sugar and timber, importing food oil, transport equipment and accessories for various types of equipment.

Speaking at a seminar on Mozambique-Malaysia business opportunities, Mozambican Minister of Trade and Industry Antonio Fernando invited company chiefs from the Asian state to invest in his country, noting that a market of 200 million potential customers will be created when Mozambique joins the free trade zone of the Southern African Development Community (SADC).

Mozambique’s Indian Ocean ports offer an increasingly viable trade link with Southern African state, particularly Malawi, Zambia and Zimbabwe, as well as the rest of the world, added the minister. (macauhub)