FBCCI aims to expand trade & investment ties with Mozambique

“Both nations occupy strategic positions as business hubs and could benefit from a more robust trade and economic partnership,” FBCCI senior vice president Mostofa Azad Chowdhury Babu was quoted as saying in a press release. “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.”

Bangladesh’s Federation of Bangladesh Chambers of Commerce and FBCCI) has expressed its anticipation for working with Mozambique to enhance trade relations and cooperation between the two countries. The apex trade organisation of Bangladesh recently held a discussion meeting with the Mozambique business delegation at its headquarters in Dhaka.

Competitive strengths in apparel, leather goods, and others are leading the way for business diversification. So, Bangladeshi investors may set up the mentioned industries in Mozambique and export the products to the Southern African Development Community (SADC), African Growth and Opportunity Act (AGOA), and the European Union (EU) region by exploring the opportunities given to Mozambique, noted Babu.

“At the same time, as we’re the second-largest exporter of readymade garments (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, IT, medicine, etc to them,” said FBCCI vice president M A Momen.

“There is huge potential in the economic relations between Mozambique and Bangladesh. We’re here in Bangladesh to see which area we both can work on,” said director general for Asia and Oceania of Mozambique Jose Matsinha, who led the delegation.

Fibre2Fashion News Desk (NB)