Mozambique and Portugal committed to deepening economic cooperation
Baku, July 17, AZERTAC
Mozambican President, Daniel Chapo, and his Portuguese counterpart, António Seguro, have reaffirmed their commitment to deepening political and economic cooperation between the two countries, highlighting mutual trust as a key factor in driving investment, stability, and development, according to the Mozambique News Agency (AIM).
“The word ‘trust’ was the central theme regarding investment, innovation, the creation of added value, and tangible benefits for our peoples”, Chapo said, at the conclusion of a bilateral meeting held during is working visit to Portugal.
According to the President, the participation of both leaders in the Euro-African Forum reinforced the importance of a balanced relationship between Africa and Europe, grounded in trade, industrialization, innovation, and shared development.
Chapo also outlined the evolution of Mozambique’s political, economic, and social situation and highlighted progress “achieved through the Inclusive National Dialogue and reforms aimed at strengthening the rule of law, improving governance, and making the business environment more attractive.”
Key measures highlighted included the modernization of legislation in the mining and oil sectors, the approval of the Local Content Law, and the creation of the Development Bank of Mozambique.
Chapo reiterated his interest in seeing increased participation by the Portuguese business community in structural projects across sectors such as industrialization, agriculture, energy, infrastructure, the blue economy, tourism, technological innovation, and digital transformation.
Cooperation in education, scientific research, and youth training was also identified as a priority for the coming years.
For his part, Seguro noted that Chapo’s visit helped demonstrate to Portuguese business leaders the conditions of stability, predictability, and confidence that exist in Mozambique.
“Over a thousand Portuguese companies export to Mozambique and that around 500 operate within the country. We must elevate economic cooperation to a new level, based on higher-quality business partnerships”, he said.
The Portuguese President added that the €500 million financing facility aimed at supporting Portuguese investment in Mozambique is in the final stages of negotiation between the two governments.
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