Trade between China and Mozambique nears $3 billion

Save Story

Estimated read time: 1-2 minutes

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

MAPUTO, Mozambique (AP) — Trade between China and Mozambique increased to nearly $3 billion this year, said China's ambassador.

Trade between the world's second largest economy and the poor southern African nation rose from $1.64 billion in 2013 to $2.94 billion between January and October 2014, said ambassador Li Chunhua.

Cooperation had expanded from traditional sectors such as infrastructure development and agriculture to include manufacturing and tourism, he said. Li spoke Wednesday evening in the capital Maputo at a photographic exhibition.

"The Chinese government is willing to make an effort to promote cooperation in various areas," said Li.

China is Mozambique's third largest trading partner, after South Africa and the European Union, according to the ambassador. The two countries have worked together since 1975, when Mozambique gained independence from Portugal.

Natural gas discoveries and increased mining for minerals such as coal, have boosted the historically impoverished country's economy, according to the World Bank.

Mozambique's government has begun an intense infrastructure development plan and, according to Li, China has funded 26 construction projects and 17 loans. He added that more than 1,100 Mozambicans have been trained in various Chinese institutions.

About 60 Chinese companies operate in Mozambique and its southern African neighbors, said Li.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business stories

Related topics



    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the Trending 5.
    By subscribing, you acknowledge and agree to's Terms of Use and Privacy Policy.

    KSL Weather Forecast