Germany will step up economic engagement with Mozambique as the southern African nation is politically stable and holds rich energy reserves, visiting German Foreign Affairs Minister Guido Westerwelle said Tuesday.

At a press conference in Maputo, Westerwelle described Mozambique's democracy as positive and stable and the country's recent discoveries of natural resources such as gas and coal an attraction to foreign investments.

"Together these provide enormous potential and it is in this context that we want to continue our cooperation," he said.

Germany is already one of Mozambique's main cooperation partners. Its investment has gone into agriculture, banking, energy, infrastructure and tourism. Westerwelle told journalists that large German companies are looking forward to investing in Mozambique. In addition, the Southern African-German Chamber of Commerce and Industry is planning to open an office in Maputo, he said.

Mozambican Foreign Minister Oldemiro Baloi said that the German experience is important to help the country manage the income from the exploration of natural resources to guarantee that they are inclusive and sustainable.

Westerwelle had visited Ghana and South Africa before starting a three-day visit to Mozambique on Monday. Endite

Go to Forum >>0 Comment(s)