Minister of Trade and Industry Sosten Gwengwe has said that Malawi’s strategic goal is to build a resilient industrial base to address macroeconomic instability that will effectively address foreign exchange shortages in the country.
He made the remarks during a bilateral meeting with Dr Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation (WTO), which focused on enhancing Malawi’s role in the multilateral trading system and addressing the country’s trade-related challenges.
The Minister stated that Malawi is committed to diversifying its economy through industrialisation and increasing its participation in regional and global value chains.
Dr Okonjo-Iweala commended Malawi for its efforts in implementing the Trade Facilitation Agreement and its proactive engagement in WTO negotiations.
She acknowledged Malawi’s leadership in chairing the working group on trade, debt, and finance and its constructive role in Least Developed Countries (LDC) negotiations on trade in services.
The Director-General assured the Minister of the WTO’s continued support, specifically through technical assistance to strengthen Malawi’s capabilities in trade regulations and notifications.
Dr Okonjo-Iweala urged the Minister to engage with the World Bank to explore opportunities for Malawi to be included in the Digital Trade for Africa initiative.
The discussions also touched on the importance of integrating Malawi into the broader digital trade ecosystem in Africa.
