France plans to increase trade with Mozambique five-fold

4 March 2014

The French government plans a five-fold increase in trade with Mozambique, which currently stands at 120 million euros per year, France’s Foreign Trade Minister, Nicole Bricq, said Monday in Maputo.

The minister, who Monday began a two-day visit to Mozambique, was speaking just after a memorandum of understanding was signed by the Confederation of Economic Associations of Mozambique (CTA) and French business organisation Medef.

According to Mozambican news agency AIM, the memorandum is intended to promote relations between the two employers’ organisations and allow Medef to have access to the Mozambican market through CTA member companies.

The vice president of CTA, Agostinho Vuma, said that the memorandum, as well as setting up a platform between the two organisations, was also intended to establish partnerships with local companies and encourage technology transfer. (macauhub)