China and Mozambique’s central banks to increase cooperation

2 April 2013

The central banks of China and Mozambique have decided to increase their two-way cooperation, specifically in the area of professional training and expanding banking activities in Mozambique into rural areas, during a meeting of the two governors.

According to a statement from the Bank of Mozambique to which Macauhub had access in Maputo, governors Ernesto Gove and his counterpart Zhou Xiaochuan, of the People’s Bank of China, analysed possibilities for cooperation, both in the areas in which the two central banks are directly involved and in the financial sector in general.

Despite not having signed a cooperation agreement, the meeting was used to establish the bases for “future agreements” between the two banks, the communications office of the Mozambican central bank told Macauhub.

Of a total 43 countries that have so far invested in Mozambique, China is the second-biggest investors, with projects in vital sectors of the Mozambican economy, such as agriculture, infrastructure, science and technology. (macauhub)