Marracuene, Mozambique – In a significant development, the Ministry of Industry and Trade in Mozambique has released impressive trade statistics, indicating that around 60 million tonnes of various products have been exchanged within the country over the past three years. This remarkable achievement represents a substantial 70.1% of the ministry’s targeted output for the 2020-2024 five-year period.
Driving Factors Behind Trade Success
Minister Silvino Moreno, while addressing the ministry’s 21st coordinating council meeting, attributed this success to multiple key factors that have contributed to the robust trade growth in Mozambique. These factors include:
- Increased Production and Productivity: The implementation of the SUSTENTA program has significantly boosted production and productivity across various sectors.
- Agricultural Marketing Initiatives: Greater coverage of the agricultural marketing revolving fund (FRCA) has played a pivotal role in enhancing trade activities related to agricultural products.
- Local Raw Material Utilization: National industries have increasingly turned to local raw materials, fostering greater economic stability.
- Enhanced Storage Capacity: Investments in storage infrastructure have improved the country’s capacity to handle and store traded goods efficiently.
Empowering Agricultural Commercialization
The Mozambican government has actively promoted agricultural commercialization through initiatives like the revolving fund for agricultural commercialization and the special credit line to support agricultural commercialization (LCCA). These initiatives have financed a total of 1,146 operations, amounting to a substantial 389.1 billion meticais. Impressively, 76% of these funds have been directed toward agricultural commercialization activities, with the remaining 24% allocated to agro-processing.
A Focus on Agro-Processing
Minister Moreno highlighted the ministry’s current focus on agro-processing as a strategic priority. This sector offers immense potential for leveraging agricultural products and, in the long term, contributes to the reduction of malnutrition in the country. It represents a critical step toward ensuring food security and improving nutrition for Mozambique’s population.
African Union’s Industrialization Drive
This year, the African Union (AU) designated a special focus on industrialization across the continent. Mozambique’s progress in trade aligns with the AU’s commitment to foster economic growth and development through industrialization. Moreover, Mozambique recently ratified the instruments for the Continental Free Trade Area (CFTA), reaffirming its dedication to regional economic integration and cooperation.
As Mozambique continues to achieve remarkable milestones in trade and economic development, the nation is poised for greater prosperity and increased participation in the global marketplace.
Mozambique Celebrates Robust Trade Growth: 60 Million Tonnes Exchanged in Three Years
Ministry of Industry and Trade Achieves Impressive Milestone
Marracuene, Mozambique – In a significant development, the Ministry of Industry and Trade in Mozambique has released impressive trade statistics, indicating that around 60 million tonnes of various products have been exchanged within the country over the past three years. This remarkable achievement represents a substantial 70.1% of the ministry’s targeted output for the 2020-2024 five-year period.
Driving Factors Behind Trade Success
Minister Silvino Moreno, while addressing the ministry’s 21st coordinating council meeting, attributed this success to multiple key factors that have contributed to the robust trade growth in Mozambique. These factors include:
- Increased Production and Productivity: The implementation of the SUSTENTA program has significantly boosted production and productivity across various sectors.
- Agricultural Marketing Initiatives: Greater coverage of the agricultural marketing revolving fund (FRCA) has played a pivotal role in enhancing trade activities related to agricultural products.
- Local Raw Material Utilization: National industries have increasingly turned to local raw materials, fostering greater economic stability.
- Enhanced Storage Capacity: Investments in storage infrastructure have improved the country’s capacity to handle and store traded goods efficiently.
Empowering Agricultural Commercialization
The Mozambican government has actively promoted agricultural commercialization through initiatives like the revolving fund for agricultural commercialization and the special credit line to support agricultural commercialization (LCCA). These initiatives have financed a total of 1,146 operations, amounting to a substantial 389.1 billion meticais. Impressively, 76% of these funds have been directed toward agricultural commercialization activities, with the remaining 24% allocated to agro-processing.
A Focus on Agro-Processing
Minister Moreno highlighted the ministry’s current focus on agro-processing as a strategic priority. This sector offers immense potential for leveraging agricultural products and, in the long term, contributes to the reduction of malnutrition in the country. It represents a critical step toward ensuring food security and improving nutrition for Mozambique’s population.
African Union’s Industrialization Drive
This year, the African Union (AU) designated a special focus on industrialization across the continent. Mozambique’s progress in trade aligns with the AU’s commitment to foster economic growth and development through industrialization. Moreover, Mozambique recently ratified the instruments for the Continental Free Trade Area (CFTA), reaffirming its dedication to regional economic integration and cooperation.
As Mozambique continues to achieve remarkable milestones in trade and economic development, the nation is poised for greater prosperity and increased participation in the global marketplace.