Maputo, July 7 (IANS): Prime Minister Narendra Modi on Thursday said that India wants to build on its already flourishing trade and investment ties with Mozambique.

Speaking at a banquet hosted in his honour by Mozambican President Filipe Nyusi, Modi said India applauded Mozambique as one of the fastest growing economies of the world in recent decades.

“Our trade and investment ties have particularly flourished in recent years,” he said.

“We want to build further on it. For this, India remains ready and committed to share its experiences, technology, capacity and concessional credit with Mozambique, in line with your priorities.”

Mozambique is the destination of around a quarter of India's investments in Africa totalling around $8 billion.

India and Mozambique on Thursday signed three agreements, including one on purchase of pulses, following delegation level talks led by Modi and Nyusi. 

Earlier on Thursday, Modi was accorded a ceremonial welcome after his arrival in Maputo on the first leg of his four-nation Africa tour.

Later in the day, the Prime Minister is scheduled to meet Veronica Mamoco, President of Mozambique's National Assembly.

He is also scheduled to interact with students at the Science and Technology Park at Maluana, near here, and with members of the Indian community before leaving for South Africa in the evening.

This is Modi's first official visit to mainland Africa and is also the first prime ministerial visit from India to Mozambique in 34 years since the visit of then Prime Minister Indira Gandhi in 1982.