Malawian President Peter Mutharika on Friday gave Pharmanova Ltd , a unit of Worldwide Group, an award od ‘Best Manufacture’ ” during the inauguration of the 27th Malawi International Trade Fair in Blantyre.
Pharmanova is a leading pharmaceutical company in Malawi.
There were also awards for the service sector which has gone to Finca Malawi; Monsanto Malawi has been awarded as best exports exhibitor and the overall best exhibitor award has gone to Malawi’s grain marketor ADMARC.
In his address, President Muthairka said his government wanted to encourage small and medium entrepreneurs, expressing hopes that these entrepreneurs would be the main drivers of his country’s economy.
“This is a sector that has huge potential to grow and be the real economic driver,” Mutharika said “We are developing policies to encourage SME’s so that they become real drivers of economic growth.”
He said other sectors, such as services, trade and capital should be major simulators of Malawi’s economy, which currently mainly depends on tobacco exports.
To achieve this, Mutharika said, the government reviewed its SME policy, noting that a new policy would be in place during 2015.
“The government will continue to put in place economic policies that will stimulate growth,” the president said.
He said Malawi would establish a development bank soon.
Mutharika called on his country’s citizens to encourage SME’s by buying their products.
“Let us support our SMEs by buying Malawian products. In so doing, we will be promoting and encouraging industrialization thereby creating jobs and reducing the structural trade deficit,” said Mutharika.
The President also said the theme for this year’s trade fair “Achieving Regional Integration through Trade” was relevant to his administration’s policies and efforts on regional economic integration.
Mnister of Industry and Trade Joseph Mwanamveka said said the fair was timely considering that in June, the President, together with fellow Heads of State and government, will be signing a grand regional integration arrangement called the Tripartite Free Trade Agreement.
The agreement will see the integration of 26 African countries from COMESA, the East African Community and SADC into a seamless 1 trillion dollar market of over 600 million people, and covering over half of the African continent, according to Mwanamveka.
Mwanamveka also said his ministry will strive to create a conducive environment for industries to thrive and enable Malawi take full advantage of regional integration.
Over 220 businesses and a handful of international exhibitors are participating in this year’s International trade fair. Only four pavilions are for participants from India, Kenya, Zimbabwe and Tanzania.
Trade Fairs are organised by the Malawi Confederation of Chambers of Commerce and Industry (MCCCI) and its representatives are proposing strong collaboration between the private sector and the government to ensure increased impact of international trade fairs.Follow and Subscribe Nyasa TV :