Coal news and updates

India, Mozambique to discuss cooperation in coal, natural gas

India and Mozambique are expected to deliberate tomorrow on ways to increase cooperation in sectors like coal mining and exploration of natural gas in the Southeast African nation.

These issues would come up for discussion between Commerce and Industry Minister Anand Sharma and Prime Minister of Mozambique Alberto Clementino Vaquina and its Trade Minister Armando Inroga.

Sharma is on a two-day visit to Mozambique from today. He will have discussions with Prime Minister Vaquina and Trade Minister Inroga.

"Issues related to export of coal and commencement of mining are also likely to come up for discussion...Exploration of huge reserves of natural gas is also likely to be discussed," an official statement said here.

India is one of the major importers of coal from Mozambique. In 2012-13, it imported USD 179.63 million worth of coal.

Sharma, during his meetings with his hosts, is likely to convey that the two sides must exert all efforts to further strengthen political and economic engagement as there is a huge potential to increase co-operation, it said.

Both the trade ministers may take up the issue related to the Duty Free Tariff Preference Scheme for Least Developed Countries. Under the scheme, India grants preferential market access on majority of products from LDCs.

Both the sides would also deliberate on encouraging trade promotion activities including visits of businessmen and holding of fairs and exhibitions.

India's exports to Mozambique include petroleum products, pharmaceuticals, transport equipment, bicycles, metals, cotton yarn, machinery, iron and steel, chemicals, fertilisers, electronic goods and cosmetics. Imports are coal, pulses, raw cashew, coconut, metal ores and scrap metal.

India’s investments in Mozambique are estimated at around USD 600 million. The bilateral trade in 2012-13 stood at USD 1.29 billion.

Source: PTI