The European Union (EU) has approved an investment package amounting to €12 billion to the private sector in Mozambique to be applied in several areas, including agriculture and energy. The announcement was by the EU ambassador, Antonio Sanchez Benedito, during his visit to the Confederation of Economic Associations of Mozambique (CTA).

According to Sanchez, the availability of this amount results from an economic partnership agreement between the two entities.

The CTA is a non-governmental economic organization, nonpartisan, whose mission is to contribute to the economic and social development of Mozambique, based on private sector growth promoting and protecting the business opportunities and private initiatives, culture and business associations.

The is also the official partner of dialogue with the government, in the private sector representation and working towards a better business environment in Mozambique, through the promotion of economic and regulatory reforms.

Sanchez said that to implement the agreement, there is a program that will be launched this year that promotes trade in order to take full advantage of the economic partnership agreement.

“The EU in Mozambique has two main agreements. A more development-oriented agreement than a general agreement, and we have a more specific agreement on economic issues” he said.

According to the EU ambassador, the agreement on economic issues falls within the regional scope (also participating countries of the region) and has a very important competitiveness component.

“It also guarantees free access to all types of customs duties on all Mozambican products for the European market, but it is also a liberalization that is symmetrical in the sense that there are sectors that are protected and supported,” he said.

In turn, Eduardo Sengo, CTA’s executive director, said that there are currently EU funds that are being managed locally and that finance various projects.

“What we want is to increase the integration of local companies’ access to these funds, increasing business opportunities in the areas of infrastructure, energy, commerce, etc.,” he said.

Sengo revealed that the subject of funds made available by the EU will be part of the Annual Private Sector Conference (CASP) to be held on March 12 and 13 in Maputo so that companies can better understand how to access the funds.

The conference will consist of four panels, and 700 participants are expected, including ministers and senior government staff, diplomatic corps, cooperation partners, business representatives from all sectors and regions of the country and academics.

– Journalducameroun.com