Nyusi sponsors protocol to promote trade with Portugal

President of Mozambique, Filipe Nyusi (File photo) Pedro Parente-ANGOP

Wednesday, April 24, 2024    09:07  

Lisbon - Mozambican President Filipe Nyusi is today attending the signing of a protocol between business associations from Portugal and Mozambique, as part of the business forum taking place in the afternoon at the Centro Cultural de Belém, in Lisbon, Reuters announced.

The Portuguese Industrial Association (AIP) and the Confederation of Economic Associations of Mozambique (CTA) are holding a meeting today with businesspeople from both countries, before the business forum taking place in the afternoon at the CCB.

Today's meeting aims to encourage "the establishment of partnerships between companies from both countries that strengthen the economic and commercial relationship between Portugal and Mozambique", reads the statement released by AIP.

It reports on the bilateral session, with the presence of 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 Mozambican businesspeople carried out on Monday and Tuesday and precedes the Mozambique-Portugal Business Forum, which takes place in the afternoon at the Center Cultural of Belém.

At this afternoon meeting, at the CCB, a protocol will be signed in the presence of Filipe Nyusi, which "provides for the two associations to commit to encouraging investments in the countries they represent, establishing partnerships between businesspeople from both countries and identifying business opportunities , in order to increase the economic and commercial relationship between Mozambique and Portugal".

The Portuguese trade balance with Mozambique worsened by 2.4% last year, but remained positive at 448.2 million euros, continuing the favorable balance recorded in recent years.

According to data from the Agency for Investment and Foreign Trade of Portugal (AICEP) based on the Bank of Portugal, sent to Lusa, trade with Mozambique has always had a favorable balance for Portugal in the last five years, with 2022 being the year in which the balance tilted most towards Portugal.

The positive balance that year was 459.4 million euros, increasing compared to the 356.1 million recorded in 2021.

Mozambique is the 33rd customer of Portugal's exports, representing 0.28% of sales, and is the 78th supplier, selling 0.03% of the goods that Portugal purchases abroad, which makes the influence on the evolution of Portugal's trade balance is very insignificant.

Mozambican investment in Portugal has always remained below 100 million since 2019, reaching a maximum in 2022, with 94 million euros invested by Mozambican companies in Portugal, representing around 0.1% of total foreign investments . CNB/GAR