The Mozambican government has expressed its willingness to draw on the experience of the Republic of Timor-Leste in managing the Sovereign Fund, resulting from the resources generated by hydrocarbon exploitation.

This was expressed today, Friday (05), in Maputo, by the President of the Republic, Filipe Nyusi, at the end of talks, as part of the three-day state visit that Timorese President Ramos Horta made to Mozambique.

The Republic of Timor-Leste ranks third in the world in the management of its Sovereign Wealth Fund, which started with 200 million dollars and today stands at around 20 billion dollars.

At the same meeting, the governments of Mozambique and the Republic of East Timor signed legal instruments to leverage cooperation in the areas of Oil and Gas, Mineral Resources and Energy, Science, Technology and Higher Education, Agriculture, among others.

The agreements were initialed by the Minister for Foreign Affairs and Cooperation, Verónica Macamo and her counterpart from the Republic of East Timor, Bendito dos Santos, in the presence of President Filipe Nyusi and his counterpart, Ramos Horta.

(Photo DR)