China, Malawi ink duty-free trade pact
Ministry of Trade and Chinese government have signed an agreement to allow Malawi export to the Asian country products duty free.
Minister of Trade and Industry, Joseph Mwanamveka who signed the pact on behalf of government on Wednesday described the agreement as a positive step to help scale up Malawi’s export base.
“The agreement will allow us as a country export tobacco, cotton, Pigeon Peas, Soya and other products duty free. Our exports have been minimal and this trade agreement is an opportunity to increase the base,” Mwanamveka said.
The trade agreement comes at the time when Chinese government plans to increase its trade investment to Malawi from US$40 million to US$250 million.
“Such trade agreements are in line with our vision of turning the country from a predominantly importing to a producing and exporting
one,” Mwanamveka added.
Malawi’s trade volume with China hit a record high of $100 million (K25 billion) in 2011, representing a 400 percent jump over 2010.
Malawi, like other African countries, has been exporting 95 percent of its export products to China duty free.
China boasts of over 1.3 billion people which, translated into increased demand for goods and services from outside economies such as
Malawi.
Dear Mr Minister of Trade, I do here by humbly plead, on behalf of our beloved country that your good office find a way to bring back the former glory of MDC, which still has good investments. This would be with a top class, innovative, youthful Malawian management team who would be people of action like yourself. Where government has influence in the change of captains of industry, please consider a total overhaul as there has been a major contraction of Malawian owned industry since the year 1994 after the introduction of multiparty politics. How do we grow the economy… Read more »
hi.im written from europe.im white but my wife she is malawian.
people they are going to invade all country.
chinese?????????????????
they are going to steel everything
open your eyes people
Wouldn’t it be much more beneficial to have the Chinese companies come and process the tobacco into cigarettes, cotton into cloths/clothes and soy and ppeas into by products that can then be exported at a higher and much better value? We should strive to move away from exporting raw materials…..
offshoring in action
These TRADE AGREEMENT will not help us at all it means they will bring there cheap,fake,poor,harzardous products duty free as well 2 weaken our kwacha 2 drain our forex i feel greedy,stupidity,Satanic is ruling this MULANKHO Government
Have you checked who is going to win in this type of trade? How much time and consultation have you taken to reach this agreement?
Tidye achule,njoka ndi agalu amchitini tsopano,made in China.Mulemele ndinu nomwe amaso ngati chulenu,mumagula fodya,soya etc motchipa kuno muzikagulisa kunja modula.Zanga ndizikagulisa ku Mozambique.
But if CHINA uses the same opportunity of exporting back to MALAWI then they will be the prime beneficiaries of the whole deal.
Abussiness aziwalo sangalalani ndi nthawi yanu iyi get ready Chiradulo and others areas of southern region
When elephants make love the grass suffers.