Maputo — Trade between Mozambique and China was worth 1.1 billion US dollars between January and October this year, according to Cao Jiachang, the deputy general director of the Africa and West Asian Affairs Department of the Chinese Trade Ministry.
Speaking to Mozambican reporters in Beijing, Cao said this was an increase of 46 per cent compared with the same period in 2011.
For all of 2011, the volume of trade between the two countries reached almost a billion dollars, which was a 37 per cent increase on the 2010 figure. The pattern in recent years has been for a rapid increase in trade between Mozambique and China, at an average of more than 30 per cent a year.
In 2011, Mozambique occupied the 23rd position in the list of China’s most important trade partners. It occupied the same position in the first ten months of this year, despite the sharp rise in Sino-Mozambican trade.
“This shows we have to make a greater effort to improve our bilateral trade”, said Cao.
He noted that China’s exports to Mozambique are very diverse, but the same is not true of Mozambique’s exports to China, which consist essentially of timber and minerals. However, Cao said that China is willing to help Mozambique expands its exports.
“We have many exhibitions in China, and some of them can serve as a platform for Mozambican products”, he added.
The Chinese authorities also say they are pleased with the political stability and peace that Mozambique has enjoyed since 1992, when the General Peace Agreement between the government and the apartheid-backed Renamo rebels brought an end to the war of destabilization.
Thanks to peace and stability, Cao said, Mozambique has been able to maintain noteworthy levels of economic growth and development, enabling the country to attract foreign investment and expand its trade.
The Chinese official believed that Mozambique has enormous potential thanks to its huge reserves of natural resources, and excellent conditions for agriculture.
As for direct Chinese investment in Mozambique, the accumulated sum is less than 100 million dollars, said Cao. However, this figure only refers to investment registered through official channels at central government level. The amount could be much larger if it included the sums approved by provincial and municipal levels, he added.
More here:
Mozambique: Mozambique-China Trade Continues to Grow