The president of Mozambique Filipe Nyusi has urged business leaders from Rwanda and Mozambique to leverage the good relationship between the two countries and grow their businesses.
Nyusi, who concluded a three-day visit in the country yesterday, delivered the message while meeting business leaders from the two countries at a business summit he hosted in Kigali as part of his trip.
The forum, which brought together leaders of private sector communities from the two countries, aimed to increase trade and investments in both Rwanda and Mozambique by tapping opportunities available in both countries.
Describing his relationship with President Paul Kagame as excellent and lauding the latter for leading good reforms within the African Union, President Nyusi said that business leaders should take advantage of that situation and grow their businesses across borders.
"Please take advantage and explore using the good relationship between me and President Kagame. I invite all business people to be bold and invest either individually or in partnership,” he told the business leaders.
Both Rwanda and Mozambique have important business opportunities in different areas, including agriculture and agro-processing, energy, tourism, manufacturing, and infrastructure.
President Nyusi said that his country has important resources like land, water, coastlines, and minerals, which he invited Rwandan businesses to come and exploit.
"We need to transform those resources into wealth so we can improve lives of our people,” he said.
Business leaders in both countries expressed their interests in exploring farther the available opportunities in both countries, with Rwanda’s Private Sector Federation (PSF) signing a Memorandum of Understanding (MoU) with Mozambique’s Confederation of Economic Association.
The agreement will help members of both bodies to expand their dialogue in line with exploring possible business partnerships and follow up on any business opportunities.
The Chairperson of PSF, Robert Bapfakulera, said that Rwandan investors are ready to work together with their Mozambican counterparts to expand their businesses.
"We must co-invest in private sector alliances both in Rwanda and Mozambique in order to achieve economies of scale in the long run,” he said.
President Nyusi’s visit aimed to strengthen his country’s ties with Rwanda and both countries on Friday signed five bilateral pacts in a bid to strengthen their relations and partnership.
The five pacts include a Memorandum of Understanding (MoU) on the establishment of a Joint Permanent Commission which will oversee the process of strengthening ties between the countries.
The two countries also signed a Bilateral Air Service agreement, exemption of visa requirements for diplomatic and service passport holders and an MoU on science and technology, higher education and professional training.
The Bilateral Air Service agreement is a step towards more reliable and predictable air services between the countries and could see Rwanda’s national carrier, RwandAir, operate flights to Mozambique.
The two countries also signed another MoU between Rwanda Development Board and the Investment and Export Promotion Agency of Mozambique.The agreement is expected to increase private sector interaction between the two countries as well as investments.
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