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Nyusi sponsors protocol to promote trade with Portugal
Mozambican President Filipe Nyusi will attend the signing of a protocol between business associations from Portugal and Mozambique today, within the scope of the business forum that will take place this afternoon at the Belém Cultural Centre in Lisbon.
© Reuters
Economia Moçambique
The Portuguese Industrial Association (AIP) and the Confederation of Economic Associations of Mozambique (CTA) will hold a meeting with businesspeople from both countries in the morning, before the business forum that will take place in the afternoon at the CCB.
The purpose of this morning's meeting is to promote "the establishment of partnerships between companies from both countries that will strengthen the economic and commercial relationship between Portugal and Mozambique", according to the statement released by the AIP, which reports on the bilateral session, attended by the vice-president of the AIP, Jorge Pais, and the president of the CTA, Agostinho Vuma.
The session follows a series of visits to companies in the Porto region and the Sines region, which the Mozambican businesspeople made on Monday and Tuesday, respectively, and precedes the Mozambique-Portugal Business Forum, which will be held in the afternoon at the Centro Cultural de Belém.
At this afternoon meeting, at the CCB, a protocol will be signed in the presence of Filipe Nyusi, which "provides that the two associations undertake to encourage investments in the countries they represent, to establish partnerships between businesspeople from the two countries and to identify business opportunities, in order to increase the economic and commercial relationship between Mozambique and Portugal".
The balance of the Portuguese trade balance with Mozambique worsened by 2.4% last year, but remained positive at 448.2 million euros, continuing the favourable balance recorded in recent years.
According to data from the Portuguese Agency for Investment and Foreign Trade (AICEP) based on the Bank of Portugal, sent to Lusa, trade with Mozambique has always had a favourable balance for Portugal in the last five years, with 2022 being the year in which the balance was most favourable to Portugal.
The positive balance in that year was 459.4 million euros, up from the 356.1 million recorded in 2021.
Mozambique is the 33rd largest customer for Portuguese exports, representing 0.28% of sales, and is the 78th largest supplier, selling 0.03% of the goods that Portugal buys abroad, which means that its influence on the evolution of Portugal's trade balance is very small.
Mozambican investment in Portugal has always been below 100 million since 2019, reaching a maximum in 2022, with 94 million euros invested by Mozambican companies in Portugal, representing about 0.1% of total foreign investment.
Read Also: Amnesty points out "abuses" by the military and repression in Mozambique (Portuguese version)
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