President Peter Mutharika has said Malawi is in the process of diversifying its economy and move into mining , saying his administration seeks to learn from Zambia experience to entice foreign investment and position the country as a competitive mining destination.
Mutharika said at state banquet (mapwevupwevu) hosted by Zambia President Edgar Lungu on Friday in Lusaka at the start of his official visit.
“Malawi is in the process of diversifying its economy, to move into mining, and Zambia, has vast experience in this sector. Malawi will seek to learn best practices from Zambia, in negotiating mining deals and mining itself,” said Mutharika.
He disclosed that Malawi “will be sending students of mining [to Zambia] to specialize in the field.”
Malawian government agencies are in the process of developing their compliance capability to effectively administer the sector in line with international best practice, further demonstrating efforts to improve the accountability and capacity to manage the expected growth of the sector.
The Malawi leader held bilateral talks with his Zambian counterpart and have agreed on a deal to have the railway project which will connect the two countries from Lusaka the capital of Zambia to Liwonde township in the eastern Malawi.
Briefing members of the press after the meeting, Mutharika expressed optimism that the this project will strengthen the trade ties that these two countries already enjoy as well as improve the cross boarder transportation system.
In addition, President Lungu and Mutharika have also tacked the issue of improving the electricity supply to Malawi as a way of making sure that the industrialization process in Malawi is not affected by low or inconsistence power supply.
“We want more investors to come to Malawi and do business with us. But for this to be possible, n conducive environment is necessary and one of such factors is to have uninterruptable power supply. My talks with President Lungu will enable us achieve this for the common good of Malawi,” said Mutharika.
During this very same meeting which happened in closed doors. President Mutharika and Zambia’s Lungu also tackled the issue of Nsanje-Inland port which according to Lungu, it will help both countries (Zambia and Malawi) to have a great opportunity to do its trade without restrictions as well as creation of jobs and improving the economic activities for the two member states.
Mutharika has so far thanked the President and the people of Zambia for continued support they render to Malawi.
“ I want to thank my brother Lungu and the people of Zambia for the love, care and all the good things you do to the people of Malawi. As you are aware that we were hit by floods and drought which reduced our maize yield. However, the government of Zambia has been kind to us by enabling my country buy maize from here which has reduced the shortfall which we had,” explained Mutharika to the media after the talks.
He also thanked Zambia for helping Malawi during the death of president Bingu wa Mutharika.
The state visit of Mutharika to Zambia is important for the two states as it continues to strengthen the social and economic relationship that these two countries have.
Malawi is classified as one of the least economically developed nations in the world and has been largely reliant on foreign aid over the past decades but Mutharika wants to move from aid to trade. The country’s economy is principally dependent on agriculture which accounts for over 37% of GDP and 85% of total exports.Follow and Subscribe Nyasa TV :