Mozambique: CTA and TXAAC Sign Agreement Aimed At Boosting Bilateral Trade

By Alberto Massango

Maputo — Mozambique's Confederation of Business Associations (CTA) and the Texas-Africa Chamber of Commerce (TXACC) have signed Memorandum of Understanding aimed at boosting bilateral trade and attracting new investment between Mozambique and the United States.

The signing took place during the US-Mozambique Business Forum and marks a milestone in strengthening economic ties between the two markets. The agreement establishes a cooperation platform designed to bring businesspeople together, facilitate strategic partnerships, and stimulate foreign direct investment in priority sectors.

Under the agreement, both institutions commit to supporting the expansion of Mozambican and US companies into new markets, promoting capacity building for entrepreneurs and micro, small, and medium-sized enterprises (MSMEs), and sharing business opportunities, market intelligence, and strategic networks.

They also pledge to strengthen public-private cooperation to improve the business environment.

The partnership focuses on areas of high economic potential where Mozambique and the State of Texas offer complementary advantages. Priority sectors include energy, oil and gas, infrastructure, manufacturing, agriculture, information technology, renewable energy, and vocational training.

According to CTA, the agreement also serves as a strategic tool to accelerate the integration of domestic companies into global value chains, facilitate knowledge and technology transfer, as well as strengthening the competitiveness of MSMEs, preparing them to meet the demands of the major investment projects currently underway in the country.

Read the original article on AIM.

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