Malawi and Mozambique Friday signed a Memorandum of Understanding (MoU) on Simplified Trade Regime (STR) that aims at improving bilateral trade relations between two countries.
Minister of Trade and Industry, Sosten Gengwe, who signed on behalf of the Malawi government at a ceremony held at Lilongwe Hotel, said the signing of the MoU is significant step as it will remove a number of bottlenecks that were chocking trade relations between the two neigbouring countries especially cross border traders.
“The simplified trade regime will play a pivotal role in transforming trade between two countries and will improve and speed up immigration and revenue processes on the borders,” he said.
Gwengwe also said by implication, the MoU will help improve relations between ordinary people of the two nations.
“Malawi and Mozambique shares a conducive environment in trade all the time so the signing of memorandum of understanding will improve the lives of citizens,” he said.
Gwengwe also added that said the government will monitor the Mou for around 90 days to check practical implementation and operations progress on the ground.
In his remarks, Minister of Trade of Mozambique, Silvino Augusto Jose Moreno, said he was happy with signing of the MoU as Mozambique believes that trade can change the economy of the two countries as well as creating job opportunities to the citizens.
“We know that small traders fear to trade with each other but with simplified trade regime the traders will keep in touch with one another, and also improve bilateral trade,” he said.
Moreno highlighted that he was not satisfied with the trade that is already on the ground but was hopeful that with the coming in of MoU, things will change of the better.
