Angola and Mozambique signed a memorandum of understanding (MoU) aimed at developing business networks, with highlight to exploitation of oil, natural gas, logistics and agribusiness, Club of Mozambique reported.

Signed in Maputo, the memorandum of understanding is meant to consolidate the cooperation between the two countries. The deal will also promote and intensify the establishment of strong relations, through the exchanges in technical-professional, economic and training areas, according to All Africa.

The document was signed by the Deputy President of the Angola Industrial Association (AIA), Eliseu Gaspar, and the Head of the Mozambique Association of Economic Confederations (CTA), Rogério Manuel.

Angola and Mozambique have economic and commercial relations as members of the Southern African Development Countries (SADC) that groups 14 countries of the region. The two countries are focusing on enhancing their oil and gas resources.