South Korea’s Trade-Investment Promotion Agency (KOTRA) is due to open a business centre in Maputo Tuesday called the “Korea Business Centre,” Mozambican daily newspaper Notícias reported.

The move follows the official opening of the Korean Embassy in Mozambique on 31 October and comes at a time when the two countries are moving to increase two-way trade.

In 2012, trade between Mozambique and South Korea totalled US$110 million and so far this year trade in goods and services between the two countries totals US$87 million.

KOTRA, which has a network of 120 offices in 82 countries, is a South Korean government organisation with the aim of contributing to the development of the South Korean economy by carrying out studies, research and new market development activities to boost foreign trade and attract foreign investment.

According to the South Korean ambassador in Maputo, Kang Hee-yoon, Mozambique has great potential for growth based on developing exports, and KOTRA would have a role to play in increasing trade between the two countries. (macauhub)