UAE and Mozambique set up cooperation commission
United Arab Emirates-Mozambique, Economics, 5/20/1999

Mozambique and the United Arab Emirates have agreed to establish a joint cooperation commission to prevent dual taxation, ensure mutual promotion and protection of investments, and finance a variety of infrastructure and social projects in Mozambique.

Panafrican news agency reported, quoting the "Noticias newspaper," the agreement of principle was reached during the two day-visit of Mozambican President Joaquim Chissano to the UAE, that ended Wednesday.

Under the agreement, the UAE state and interested businessmen are expected to invest in the construction of public infrastructures, health and education sectors, water supply in the rural areas and assistance to needy people.

Chissano said top priorities among the projects to be built with the assistance of the UAE are the Savane coal and iron terminal, a few kilometers north of the existing port of Beira, and dams for water supply, electricity and irrigation.

He was also enthusiastic about the possibility of UAE involvement in agro-industrial projects, notably fruit production and processing.

Chissano said the two countries will exchange delegations to study the technical aspects of implementation.

As a means to facilitate the contacts of UAE businessmen with Mozambique, the Mozambican government intends to establish a diplomatic mission in the UAE before the end of the year.

Chissano noted that during talks with the UAE authorities he encouraged investments specifically in the central and northern regions of the country as a means of ensuring balanced development.

He said that he had stressed incentives such as the package of tax and customs exemptions for investment in the Zambezi Valley.

According to the source, some UAE businessmen have already expressed intention to invest in natural gas exploitation and the installation of a fruit processing plant in the central Sofala province, the building of a hotel and the planting of orchards in the northern province of Cabo Delgado.

Previous Stories:
  UAE, Mozambique for strengthening bilateral relations   (5/18/1999)
  UAE pleased with oil price increase   (5/6/1999)
  UAE, Qatar send donations to Kosovo   (5/6/1999)

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