Mozambique forecasts more exports to the USA

Mozambique’s exports to the United States may reach USD500 million in the next two years under the aegis of the African Growth and Opportunity Act (AGOA), a mechanism set up by Washington to facilitate the American market entry of products from African countries, Mozambique’s trade minister said.
Minister Armando Inroga said the figure represented a major increase in Mozambican exports to the American market, which in the last five years have stood at around US$76 million. He made his comments on the sidelines of the summit meeting between the United States and African leaders held yesterday in Washington, where Mozambique was represented by President Armando Guebuza.
US President Barack Obama announced during the summit assistance worth US$26 billion for Africa, with 14 billion earmarked for the banking, infrastructure construction and information technologies sectors, among others, and the remaining 12 billion for electrification programmes in various countries on the continent.
American entrepreneurs have pointed to the question of infrastructures and the deficient electric power network in Africa as among major development constraints on the continent. The World Bank, for example, has indicated that Africa is only able to produce 30 percent of the energy it needs to make its development programs feasible. MDT/Macauhub