TRALAC - Trade Law Centre

Maputo conference promotes USA / Mozambique economic relations

Wednesday, 18 April 2012

Source: Macau Hub (China)

A business development conference with the theme topic of "Let's Do Business: US-Mozambique 2012" is scheduled to take place on Wednesday, organised by the United States embassy together with the USA-Mozambique Chamber of Commerce (CCMUSA).

An official source contacted on Tuesday by Macauhub in Maputo said the United States was not among the top ten foreign investors in Mozambique and that the most visible investment by companies from that country was carried out by the Anadarko Petroleum group.

Bilateral trade from October 2010 to October 2011 increased from US$289 million to 418 million, with a deficit for the Mozambican side. The USA sold Mozambique energy products, wheat, trucks and tractors, and imported titanium and tantalum ores, cashews and precious stones.

All Mozambican exports in 2011 essentially entered the USA exempt from customs duties as they were covered by that country’s African Growth and Opportunity Act (AGOA) or by the Generalised System of Preferences.

A source from the Investment Promotion Centre (CPI), a government body that promotes national and foreign investment, told Macauhub that US entrepreneurs were interested in the areas of renewable energies, industry, information technologies and mineral resources (hydrocarbons).

The gathering that begins today is meant to initiate lasting ties between US and Mozambican business interests and provide a platform for American investors to present themselves in local markets and thus increase direct investment and trade with Mozambique.

The opening ceremony will include speeches by Mozambican President Armando Guebuza, US ambassador Leslie Rowe and Industry and Commerce Minister Armando Inroga. Another scheduled speaker is Tim Schweikert, president and executive director of China & South East Asia GE Transportation.

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