About 500 foreign firms from 20 countries including first timers like Japan and Sweden are set to attend the annual trade fair to be held at the end of August in Mozambican capital Maputo, organizers said Thursday.

This year's event, run from Aug. 29 to Sept. 1, has the main objective to working towards a common market among the 15 Southern Africa Development Community (SADC) member states, and promoting the region, especially Mozambique, as an attractive foreign investment destination, Joao Macarringue, chairperson of the National Institute for Export Promotion, said.

Macarringue said companies from more foreign countries have registered for the event. The fair's traditional participants are from Portugal, Brazil, China, and neighboring states like South Africa, Zimbabwe, Tanzania, and Malawi.

Mozambique has been one of the fastest growing African economies over the past few years with a number of global energy firms -- Rio Tinto, Brazil's Vale, Italy's ENI -- developing the country's huge coal and natural gas deposits. Endi