India, Mozambique trade doubles

Last Updated: Saturday, July 6, 2013 - 14:05

Maputo: Trade between Mozambique and India has doubled from USD 6.31 million in 2010 to USD 1.28 billion in 2012, a government minister said Friday.

Deputy Mineral Resources Minister Abdul Razak said this was due to good economic relations between the two countries and boosted by Mozambican President Armando Guebuza's visit to India two years ago, reports Xinhua.

The figure was revealed at an India-Mozambique business forum in Maputo.

Razak said Indian businessmen had a lot of opportunities to grab in Mozambique in the fields of mineral resources, transport, energy, health and technology among others.

"Investment climate in our country is excellent", he said. "Mozambique is open to direct foreign investment."

Razak said Mozambique had a huge potential such as natural gas with reserves attaining around 160 trillion cubic feet and coal deposite of about 20 billion tonnes.

Mozambique exports power to energy-thirsty neighbours.


First Published: Saturday, July 6, 2013 - 14:05

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