Mozambique intends to expand its trade and investment partnership to the United States market, using the African Growth and Opportunity Act (AGOA Forum) as a tool to facilitate the process.

This intention was expressed by the Minister of Industry and Commerce, Carlos Mesquita, at the forum held in virtual format, under the slogan "Rebuilding Better U.S.-Africa Trade and Investment Relations."

On the occasion, the ruler explained that in order to expand trade with the U.S., it is important that AGOA be expanded, taking into account that it can contribute to the increase of bilateral trade.

At the event, which took place within the framework of the existing cooperation between the United States of America and sub-Saharan African countries, Carlos Mesquita, said that the extension of AGOA would do justice to the efforts made so far and use lessons learned to improve it in order to achieve the goals for which it was established, including for the improvement of Small and Medium Enterprises (SMEs).

"The challenges faced in its implementation process should not justify the end of AGOA, because it is a good instrument for increasing trade and investment through export diversification and value addition that, in turn, brings mutual benefits to both the United States and Africa in general and Mozambique in particular," he stressed.

On the occasion, Mesquita invited members of the US Congress to visit Mozambique to witness the significant progress Africa is making in combating poverty.

"This visit can also be an opportunity for U.S. officials responsible for AGOA to see how the industrialization program, local value chain and entrepreneurship can generate sustainable and inclusive development, as well as promote regional and continental integration," he stressed.

Carlos Mesquita also referred to the strategic importance of North American development financial institutions such as DFC, EXIM Banking and USTDA in the structural viability of AGOA as an instrument of economic partnership with Africa.

The source also highlighted the contribution of initiatives such as AGOA in the process of integrated industrialization in Africa and in Mozambique in particular, as a strategic priority in the diversification of exports.

"Diversification is based on supporting infrastructure such as industrial parks and industrial free zones that add value to national production and boosted through public-private partnerships prioritizing American investors and financing solutions," he said.