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British and Mozambican trade ministers meet

The British Minister for International Trade, Ranil Jayawardena, and the Mozambican Minister of Industry and Trade, Carlos Mesquita, held a meeting this Monday to discuss the impact of Covid-19 in Mozambique and assess bilateral trade opportunities.

Total trade in goods and services between the United Kingdom and Mozambique increased year-on-year by 45% in 2019.

Following the participation of Minister Carlos Mesquita and President Filipe Nyusi at the UK-Africa Investment Summit in London earlier this year, this follow-up meeting focused on the UK’s role in supporting Mozambique’s economic recovery.

The United Kingdom reiterated its commitment to helping Mozambique open 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 minimise the impact of Covid-19 on the main productive sectors of the economy, including agriculture, energy and industry, promoting a green recovery.

Mozambique’s strategic location gives it the opportunity to assume regional leadership in facilitating trade.

Also read: UK Export Finance set to back TOTAL’s US$20B Mozambique LNG project

The United Kingdom can provide technical support to Mozambique on trade policy and facilitation issues through its Trade and Investment Advocacy Fund.

Mozambique and the United Kingdom want to strengthen bilateral trade relations, with SACU and Mozambique Economic Partnership Agreement (EPA) is the next step in the partnership. The United Kingdom is pleased that Mozambique was able to sign, last year, an Economic Partnership Agreement 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.

SACU+M countries are an important market for British exports of machinery and mechanical appliances worth £409M in 2018, motor vehicles worth £335M and beverages, including whisky, worth £136M.

Source: Rádio Moçambique via Club of Mozambique

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