Mozambique-Dubai trade reaches US$600 million

Mozambique-Dubai trade reaches US$600 million
Mozambique-Dubai trade reaches US$600 million

Africa-Press – Mozambique. The volume of trade between Mozambique and Dubai reached US$600 million in 2020, a figure that represents a growth of 140% over the last five years.

This growth was, in part, driven by the entry into operation of the Dubai Chamber of Commerce offices in Mozambique, which helped boost trade from an average US$250 million to the current US$600 million.

Imports represent 75% of the global value and exports the remainder, a fact influenced by the transport and logistics capacity of the United Arab Emirates, as well as its geostrategic location, serving as a gateway to the Asian continent for people and goods.

Mozambique, in turn, has the advantage of its strategic position as an entry point for the Southern African Development Community (SADC), a market of around 300 million inhabitants, through its ports in Maputo, Beira and Nacala, which offer easy connection to other markets in the region.

Mozambique is also favoured by its privileged position in the export of raw materials from countries of the region to Asia, including agricultural products, as well as the contribution of its tourism industry.

“Of the US$600 million, more than US$400 million represent exports from Dubai to Mozambique, with the remainder being exports from Mozambique to Dubai,” said representative of the Dubai Chamber of Commerce in Mozambique and in the region, Abdula Momade, in an interview with AIM last Friday. “Mozambique exports more minerals, as is the case with coal.”

Momade expects a greater increase in volume in the near future, taking into account Mozambique’s potential in the energy and agricultural sector. He particularly pointed to agricultural mechanization and the exploitation of natural gas as key themes for the next stage of Mozambique-Dubai economic cooperation.

However, Momade made a less favourable assessment of 2021, due to the Covid-19 pandemic, which led to the imposition of many restrictions on trade and other sectors of the economy, the result of which was a deceleration in the upward trajectory of trade indicators.

“During this period, there was a drop due to restrictions that led to delays in the delivery of goods, with flight cancellations among the constraints, and this caused a slight slowdown in economic growth,” Momade said.

As a way to stimulate trade, the Dubai Chamber of Commerce in Mozambique is organising a private sector business mission to Dubai in the last fortnight of March, with the aim of mobilising foreign direct investment and publicising the country’s economic potential.

Alongside this initiative, the Mozambican authorities scheduled a business forum during the Dubai-Expo, currently underway, where Mozambique is participating with an exhibition on the country’s enormous potential, particularly in the tourism, biodiversity and culture sector.

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