Mozambique’s trade balance with African nations has seen remarkable growth, increasing by 66% over the past five years to an export volume of $7.1 billion. This expansion aligns with the country’s commitment to deeper regional economic integration, officially launched under the African Continental Free Trade Area (AfCFTA) agreement.
During the announcement in Beira, Sofala province, Prime Minister Maria Benvinda Levi emphasized the strategic importance of leveraging Africa’s market opportunities. She stressed that broader economic collaboration would drive industrialization, enhance business growth, and promote productive specialization within Mozambique’s economy.
Under AfCFTA, Mozambique will trade with 47 African countries, following the approval of its tariff offer by African Union leaders in February. This agreement aims to foster greater competition and increase Africa’s prominence in the global trade landscape. By ensuring the free movement of people and goods, boosting investments, and strengthening industrial capacity, the agreement offers a pathway to enhanced economic stability.
Levi highlighted that maximizing Africa’s natural resources and raw materials through value-added processes will be key to sustaining long-term industrial development. She called for continuous innovation, investment in infrastructure, and improvements to the business environment, which will enhance regional trade efficiency.
Additionally, Levi pointed to the broader economic benefits, including balanced trade, increased intra-African commerce, employment creation, and income generation. She described AfCFTA as a transformative initiative, positioning Africa as a competitive global market while unlocking new growth opportunities for Mozambique and other participating countries.