Mumbai, September 21, 2016 : Multi Commodity Exchange of India Limited (MCX), India’s no. 1 commodity exchange, and the Mozambique Commodities Exchange (also known as Bolsa De Mercadorias De Moçambique, or BMM), signed a Memorandum of Understanding (MoU) for strategic co-operation on Tuesday, September 20, 2016 in Mumbai.
BMM envisages to develop Mozambican commodity markets ecosystem consisting of energy, base metals and agricultural products in an endeavor to deliver better value to the stakeholders. MCX intends to work with BMM to help Mozambique realize its potential behind its resource rich economy through sharing its market and capacity development expertise. The exchanges aim to continue facilitating potential collaboration in areas such as sharing of knowledge, research, experiences etc., which is expected to result in opening up of new avenues of mutual cooperation.
Mr. Mrugank Paranjape, MD & CEO, MCX said, “We are pleased to be associated with the efforts of the Mozambique Commodities Exchange to develop their commodities markets. I am sure this alliance will surely go a long way in creating more efficient markets and strengthen trading among the Asian and African regions benefiting each other’s stakeholders. We look forward to a longstanding and gratifying partnership with BMM. We are also pleased to have Mr. António do Rosário Grispos, CEO of the Mozambique Commodities Exchange in our midst in Mumbai.”
Mr. António do Rosário Grispos, CEO, BMM said, "This act that we testify today, for us is a huge significant step in the consolidation of a commodities exchange market in Mozambique, especially dedicated to agricultural commodities and not only, that Mozambique is rich of. Through this agreement, the technicians of BMM can learn from the successful experience of MCX, by its know-how and understand the vicissitudes of a commodities market inserted in a global market, in order to better serve the BMM and Mozambique.”
‘‘The choice of MCX, is not only due to its excellent performance in the ranking of the best world commodities exchanges, but is also due to the history of the peoples of these two nations (Mozambique and India), where according to official records last at least five (05) centuries of commercial and social exchanges, which makes all of us a living heritage of this legacy. I am confident that with this agreement the conditions are created for a greater cooperation between the parties, and I would like to ensure that we will do our best to honor it”, Mr. Grispos added.