Mozambique seeks assistance from India towards economic development

“India and Mozambique enjoy close, friendly relations built upon traditional links dating back to pre-colonial period. As of date, the Indian economy has actively assisted Mozambique in its struggle towards economic development. Going forward, Mozambique invites Indian business community to develop its industrial base, the MSME sector, infrastructure, exports, among others”, said Mr. Oliveira Amimo, Commercial Counsellor, High Commission of the Republic of Mozambique during an interactive meeting organized by MVIRDC World Trade Centre Mumbai and All India Association of Industries with the High Commission of the Republic of Mozambique. 

Enumerating on the assistance provided by India Mr. Amimo said that India has been assisting Mozambique in various ways through Line of Credits (LOCs). India had offered credit assistance of US$500 million to Mozambique during the State visit of Mozambican President to India in 2010. Also, India had extended LOCs earlier towards setting up the Technology Development & Innovation Centre in the S&T Park and setting up of the solar photovoltaic manufacturing plant. 

Earlier, in his welcome address Mr. Vijay Kalantri, President, All India Association of Industries and Vice Chairman, MVIRDC World Trade Centre Mumbai said that the bilateral trade between the nations amounted to US$ 1,281.41 million during 2012-13 registering an impressive increase of 102.41% compared 2011-12. Indian exports to Mozambique are petroleum products, drugs & pharmaceuticals, rice, machinery and instruments, transport equipment, cotton yarn & fabrics,  manufactures of metals, plastic & linoleum products, primary & semi-finished iron & steel,  paper & wood products, man-made yarn fabrics, wheat, rubber manufactured products, electronic goods, inorganic & organic agro chemicals, glassware, sugar, processed minerals, paints & enamels, miscellanous processed items, etc. The main exports from Mozambique to India are pulses, raw cashew, coconut, metal ores and scrap metal etc. Also, India, with a total approved investment of US$120 million as of July, 2013, is the 8th largest investor in Mozambique, with Brazil, Portugal & South Africa occupying the first three places. 

Mr. Kalantri noted that the two economies may further economic and trade relations through regular exchange of delegations, interactive meetings, seminars, trade fairs and exhibitions.

                                               

January 31, 2014    

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From (L-R) : Mr. Vicente Paulo Chihale, Former Commercial Commission Councilor of Republic of Mozambique, High Commission of the Republic of Mozambique,  Mr. Vijay Kalantri, President, All India Association of Industries and Vice Chairman, MVIRDC World Trade Centre Mumbai, Mr. Oliveira Amimo, Commercial Counsellor, High Commission of the Republic of Mozambique, Mr.  Y. R. Warerkar, Executive Director, MVIRDC World Trade Centre Mumbai during an interactive meeting organized by MVIRDC World Trade Centre Mumbai and All India Association of Industries with High Commission of the Republic of Mozambique.