(Ecofin Agency) - Mozambique has entered into an agreement with the US to boost trade relations with the country and “remove investment barriers,” Macauhub reports.

The document was signed on the sidelines of the U.S-Africa Business Summit held in Maputo, Mozambique, last week. It covers several key sectors of the Mozambican economy, namely agriculture, fisheries, tourism, energy and infrastructure.

According to the US authorities, the MoU will mainly serve to identify priority projects in these sectors and stimulate trade between the two parties, through future free trade agreements.

The signing of this agreement comes at a time when the United States announced last week, its intention to double the volume of its investment and trade with Africa in the coming years. This is achieved through a new strategy called Prosper Africa, which will provide mixed financing, loan guarantees and market intelligence to help make American investments in Africa less risky.

Mozambique is the fourth African country to sign such an agreement with the United States, according to Karen Kelley, the US Deputy Secretary of Commerce. 

Moutiou Adjibi Nourou