FBCCI for enhancing trade relations with Mozambique

Director General for Asia and Oceania of Mozambique Jose Matsinha has sought Bangladeshi investments in the African country particularly in agriculture sector.

He made the call as the leader of a Mozambique business delegation in a meeting with the leaders of Federation of Bangladesh Chambers and Commerce and Industry (FBCCI) at the apex trade body’s Motijheel office in the capital on Monday.

He said, “There is huge potential in economic relations between Mozambique and Bangladesh. We are here to identify the sectors that can serve the interest of both the countries. We can get experience from Bangladesh in strategic areas with mutual interest.”

Matsinha also said, “We have a large amount of land and plenty of water in Mozambique but we lack expertise. Bangladesh can help us in the agriculture sector.” He praised the role of Bangladeshi peacekeepers who worked in Mozambique.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu said the FBCCI is looking forward to enhance trade relations, investment, and cooperation with Mozambique. Both Bangladesh and Mozambique occupy a strategic position as business hubs and could benefit from a more robust trade and economic partnership.

Mostofa said, “Our presence in Africa is mostly due to the large contribution of our peacekeeping forces. But now we are trying to increase business ties with the southern economic bloc by enhancing trade and investment.”

“Competitive strength in apparel, leather goods, pharmaceuticals, frozen seafood, plastic products, ceramics, jute and leather products, ICT, FMCG, home appliances, and other sectors are leading the way to Bangladesh’s business diversification,” he added.

“So, capitalising the strength, Bangladeshi investors can set up faactories of the mentioned industries in Mozambique and export the products to the Southern African Development Community (SADC), African Growth and Opportunity Act (AGOA), and the EU region,” he noted.

“Bangladeshi investors may also explore potential opportunities in Mozambique investing in sectors like agriculture equipment; road construction, railways, energy (coal, hydropower, gas, solar, wind, biomass); fishing, and ICT,” he mentioned.

FBCCI Vice-President MA Momen said the Bangladesh government wants to import natural gas from abroad. As we are the second largest exporter of RMG, we have a huge demand for cotton. Therefore, there is an opportunity to import natural gas and cotton from Mozambique. We can also export RMG products, IT, medicine etc. to Mozambique.

High Commissioner of Mozambique to India Ermindo Ferreira, Director General for Africa Md Tarikul Islam, representative of the Ministry of Economy and Finance of Mozambique Jose Fernando Messias, Mozambican Investment and Export Promotion Agency Dique Francisco Bacar, FBCCI Secretary General Mohammad Mahfuzul Hoque, FBCCI directors Hasina Newaaz, MGR Nasir Majumder, Syed Moazzem Hossain, Bijoy Kumar Kejriwal, Hafez Harun, SM Shafiuzzaman, Mohammad Mahbubur Rahman Patwari, and Akkas Mahmood, among others, were present at the meeting.