Mozambican President Filipe Nyusi on Tuesday officially opened the Zimbabwe Agricultural Show (ZAS) in Harare calling for stronger economic cooperation between Mozambique and Zimbabwe.
The trade dynamic between Zimbabwe and Mozambique has been characterized by a relatively modest level of engagement in recent years.
The primary products exported from Zimbabwe to Mozambique encompass processed tobacco ($26.6 million), other minerals ($25 million), and ferroalloys ($22.6 million).
A notable decline in Zimbabwe's exports to Mozambique has been observed over the past five years, with an annualized rate of decrease of 11.3%, from a peak of $348 million in 2017 to $191 million in 2022.
In his keynote address, Nyusi stressed the importance of regional economic integration.
"The event, which celebrates over a century of agricultural innovation, drew attention to the potential for enhanced trade relations between the two nations.
"Our determination to take ownership of resources for the benefit of our people prevails.
"It is our intention to continue cooperating by fostering collaboration between our two countries and producing wealth together for the welfare of our people.
"I wish to greet the people of Zimbabwe and the Zimbabwean and Mozambican business people here present, all committed to the advancement of trade and investment not only in Zimbabwe but in the entire region to which we belong the SADC region and at a global level," President Nyusi said.
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He recognized the historical context of the two nations, noting that "today, we do not have physical borders but rather imaginary boundaries that are a legacy of that past."
Nyusi emphasized the importance of transcending these historical boundaries to unlock greater economic cooperation and collaboration between Mozambique and Zimbabwe.
"From 2018 to the first half of 2024, Mozambique's exports to Zimbabwe totalled US$890 million while imports stood at approximately US$161 million.
"This stark contrast illustrates the need for improved economic collaboration."
Nyusi outlined Mozambique's commitment to attracting investment.
"Our participation in this important exhibition represents our intention to attract Zimbabwean investors and advisors, as well as international investors from various sectors," he said.
Nyusi highlighted the importance of mobilizing investment in a diversified range of sectors, including agriculture, logistics, and resource allocation.
He extended an invitation to Zimbabwean and international investors to partner with Mozambique, unlocking new opportunities for economic growth and cooperation.
