Mozambique is seeking business partnerships in the areas of tourism, agribusiness, mineral resources and energy with Nigeria. The Minister of Industry and Trade, Silvino Moreno, reiterates that the bilateral business forum that started last Thursday will broaden economic cooperation between the two countries.

Nigeria's investment in Mozambique between 2016 and 2021 is valued at over US$44 million, with most prominently in the banking sector in the country, the case of United Bank for Africa, Access Bank and other banking institutions.

Meanwhile, the government believes it is imperative to expand the scope for economic cooperation in other sectors.

According to the Minister of Industry and Trade, Silvino Moreno, there are other areas that deserve greater emphasis and that can serve as a catalyst element to gain access to international markets, and contribute to the development of the two countries.

"The value chains and agricultural production niches with agro-ecological potential, the establishment of industrial parks and supply markets, in the transformation and value addition of agri-food products, including fisheries, in the energy sector and mineral resources and natural gas exploration in the Búzi district basin and in the infrastructure sector and logistics corridors, as well as in the tourism sector," detailed Silvino Moreno, during the opening of the Business and Investment Forum between Nigeria and Mozambique.

But the appeal of the Minister of Industry and Trade to Mozambican businessmen is not only limited to Mozambique's potential. For the minister, the country's legal framework and the measures to stimulate the economy, announced in August by the President of the Republic, Filipe Nyusi, also serve to attract foreign investors.