Maputo, Mozambique, 18 Feb – The government of Mozambique is set to remove one of the final obstacles to free trade in the region with the approval of a Competition Law by June, according to the South African press.
The Competition Law is one of the main instruments that the members of the Southern Africa Development Community (SADC) must approve in order to bring into force the SADC Free Trade Agreement in 2008, customs union in 2010, a common market in 2015 and monetary union in 2018.
Mozambique is one of the countries that neither has legislation on competition or a regulatory authority, similarly to Botswana, Lesotho and Angola.
Cited by the South African press, Mozambique’s minister for Trade and Industry, António Fernando said that Mozambique was taking steps in the direction of regional integration, and that on 1 January it had begun eliminating the obstacles to free trade.
Competition policy was approved by the government in July, 2007 but si now being revised.
The new Law, when it is approved, is expected to open up some sectors to private business, such as water and electricity, drinks and sugar and to offer greater openness to potential investors (both national and international) in sectors such as telecommunications, ports and railroad and air transport. (macauhub)