Malawi and Mozambique have signed two important trade pacts aimed at unlocking and boosting trade of the two countries.
President Lazarus Chakwera, who is currently in Mozambique signed the two pacts on behalf of the government of Malawi.
Speaking during the signing ceremony, Chakwera said the signing of two trade agreements between Malawi and Mozambique is key to enhancing the economic relationship between Malawi and Mozambique.
He said this at Marracuene in Mozambique when together with his counterpart President Filipe Nyusi of Mozambique witnessed the signing ceremony of two memorandums of understanding on trade between Malawi and Mozambique.
The agreements have been signed between the Agency of Promotion and Investments and Appiex IP of Mozambique and the Malawi Investment and Trade Centre as well as the Mozambique Cereals Institute ICM and the Agricultural Development and Marketing Corporation (ADMARC).
Chakwera said Malawi imports goods worth US$300 million annually and many of them are handled at Nacala and Beira ports but not much has been done to enhance bilateral trade between the two countries.
“There are calls that African countries should increase Intra African Trade as facilitated by the African Continental Free Trade Area AfCFTA.
“Currently, the trade volumes between Malawi and Mozambique are relatively low despite the proximity of major commercial and industrial hubs of the two countries.
“One way to grow trade is to forge linkages of the private sectors of the two countries,” said Dr Chakwera.
In his remarks, President Nyusi said the two countries will collaborate to ensure these agreements become practical so that the people of the two countries benefit.
Chakwera also toured pavilions of different goods and services that Malawians and Mozambicans are doing in a quest to enhance trade.
The signing of the agreements follows a series of other meetings that Mozambique and Malawi have been having aimed at enhancing trade, industrialisation and investment in the two countries.Follow and Subscribe Nyasa TV :