Preparations are at an advanced stage for this year’s trade fair which runs from May 25 to June 3, the Malawi Confederation of Chambers of Commerce and Industry has announced.
MCCCI chief executive officer Chancellor Kaferanjira told Nyasa Times on the sidelines of media briefing in Blantyre that preparations for this year’s event have been dogged by what he said unfavourable political and economic mess manufactured by the former ruling regime.
He therefore voiced optimism in the new administration of President Mrs. Joyce Banda saying it has potential of ironing out the challenges the country has been facing.
“Preparations for this year’s fair met lots of challenges because of the political climate which was there before president Mutharika died. However, we’re confident the new administration will sweep better for the betterment of our country,” said Kaferapanjira an economist by profession.
On trade imbalances as a result of country’s altitude of importing more and exporting less, Kaferapanjira urged the Malawi government to build strong base where it is able to overturn the tables by producing quality products worth exporting.
He also bemoaned lack of competiveness and policy misalignment in the country’s industrial sector as among some of the contributing factors to the country’s ailing economy.
“It is appalling to note that 53.4 percent of firms in Malawi use foreign inputs whilst only 6.4 percent of all firms in Malawi export compared to 9.7 percent in Sub-Saharan Africa and 10.4 percent in low income countries. This is a reflection of the presence of investment that considers Malawi as market for products which need to be changed by allowing more exportation,” added Kaferapanjira.
According to information sourced at MCCCI offices, apart from Malawian firms other countries that have confirmed participation include Zambia, Pakistan, Tanzania and Kenya and have already booked 15 pavilions