(4 minutes read)
· The British Minister for International Trade, Ranil Jayawardena, and the Mozambican Minister of Industry and Trade, Carlos Mesquita, held a meeting recently to discuss, among other things, bilateral trade opportunities. Impact of Covid-19 also figured prominently during the discussions
· Total trade in goods and services between the United Kingdom and Mozambique increased appreciably in the last year (2019), registering a year-on-year growth of 45%
The British Minister for International Trade, Ranil Jayawardena, and the Mozambican Minister of Industry and Trade, Carlos Mesquita, held a meeting recently to discuss, among other things, bilateral trade opportunities. Impact of Covid-19 also figured prominently during the discussions.
Total trade in goods and services between the United Kingdom and Mozambique increased appreciably in the last year (2019), registering a year-on-year growth of 45%. This was a follow up meeting of the UK-Africa Investment Summit held in London earlier this year. At the summit also, there was focused discussion on the role of Britain in Africa’ development process, after Brexit. British economic partnership with individual countries, including Mozambique also came up for discussion at the Summit.
At the follow-up meeting held through virtual medium, the United Kingdom reiterated its commitment to helping Mozambique by opening up supply chains and fair trade practices in response to the pandemic. The United Kingdom is also offering technical support for the development of an action plan to minimize the impact of Covid-19 on sectors including agriculture, energy, industry and promoting a green recovery. It was also felt at the meeting that Mozambique’s strategic location gives it the opportunity to assume regional leadership in facilitating trade in the region.
Mozambique and the United Kingdom want to strengthen bilateral trade relations, with SACU countries. Mozambique Economic Partnership Agreement (EPA) is the next step in the partnership. Mozambique was able to sign, last year, an Economic Partnership Agreement with the UK, which will guarantee and strengthen business relations for years to come. The agreement allows UK companies to continue to negotiate on preferential terms with South Africa, Botswana, Lesotho, Namibia, Eswatini and Mozambique. It also supports the economic development of these Commonwealth partners, laying the foundation for new business and investment in the future. These countries (SACU+M) are an important market for British exports of machinery and mechanical appliances worth £409 million in 2018, motor vehicles worth £335 million and beverages, including whisky, worth £ 136 million.
