Minister of Trade and Industry, Sosten Gwengwe, has underscored the necessity for Malawi and India to address pivotal trade issues, specifically the exorbitant tariffs impacting Malawi’s exports of mangoes and macadamia nuts to India.
Gwengwe made the remarks during a meeting with India’s Minister of State, Shir Kirti Vardan Singh, at the 19th CII India Africa Business Conclave, currently being held at the esteemed Hotel Taj Palace in New Delhi, India from August 20th to 22nd, an event to which the minister was invited by the Indian government.
During the meeting, Gwengwe highlighted the obstacles posed by the prevailing high tariffs that have substantially impeded the competitiveness of Malawi’s agricultural exports in the Indian market.
He emphasised the importance of mango and macadamia exports for Malawi’s economy, particularly for smallholders who rely on mango and macadamia nut cultivation for their sustenance.
The deliberations were aimed at reaching a consensus and negotiating reduced tariffs or other trade facilitation measures that would empower Malawian exporters to penetrate the Indian market more effectively.
Both parties conveyed a strong commitment to bolstering trade relations and exploring avenues to fortify economic bonds between the two nations.
The Indian Minister of State acknowledged the raised concerns and exhibited readiness to collaboratively address the issues for the mutual benefit of both countries, underscoring India’s keen interest in nurturing closer economic partnerships with Malawi and other African nations.
The meeting signifies progress in dismantling trade barriers and potentially unlocking new opportunities for Malawian agricultural products in the Indian market.
