Mozambique to strengthen cooperation with China: bank governor

MAPUTO, Oct. 11 (Xinhua) -- Mozambique wants to strengthen cooperation with China, Mozambican Central Bank Governor Ernesto Gove said on Thursday.

Gove made the remarks at a financial forum in Macau. "We take this meeting as an excellent opportunity to diversify the base of our economy, explore new opportunities and deepen our knowledge on the Asian market," Gove was quoted by Radio Mozambique as saying.

The Macau gathering is also attended by central bank governors from Portugal and Cape Verde, as well as representatives from East Timor and Chinese financial leaders.

According to the Mozambican central bank governor, both countries benefit from bilateral cooperation in infrastructures, agriculture, fisheries, energy and mining industry.

The deepening of economic and trade relations with each other is of utmost importance at a time when both countries conduct cooperation in exploring coal, gas and other resources, which need huge investment, solid partnerships and more vigor in its sustainable management, he said.

According to Gove, China is Mozambique's leading official creditor, boasting 1.8 billion U.S. dollars for strategic construction projects, such as roads, airports and bridges.

These projects are of great importance for deepening the integration of local market, Gove said, adding there is need to know better the Chinese financial system so as to strengthen economic and financial cooperation with Beijing.

"China is one of the world economic potentials, and Mozambique has got strong relations with China, and that is why, central banks must know mechanisms of the Chinese financial system," said Gove.

Stressing the importance of Macau as the bridge between China and the Portuguese-speaking nations, Gove said the Chinese currency yuan must be used as an important trade exchange. Enditem

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