MOZAMBIQUE, MALAWI SIGN PACTS TO UNLOCK TRADE

President Dr Lazarus Chakwera says the signing of two trade agreements between Malawi and Mozambique is key to enhancing the economic relationship between Malawi and Mozambique.

He said this at Marracuene in Mozambique when together with his counterpart President Filipe Nyusi of Mozambique witnessed the signing ceremony of two memorandums of understanding on trade between Malawi and Mozambique.

The agreements have been signed between the Agency of Promotion and Investments and Appiex IP of Mozambique and the Malawi Investment and Trade Centre as well as the Mozambique Cereals Institute ICM and the Agricultural Development and Marketing Corporation (ADMARC).

Under the agreements, Malawi seeks to negotiate for a convenient border post, simplified trade regimes, equal treatment of transporters, and the introduction of yellow cards for enhanced trade among others.

Speaking during the signing ceremony of the pacts, Dr Chakwera said Malawi imports goods worth 300 million US Dollars annually and many of them are handled at Nacala and Beira ports but not much has been done to enhance bilateral trade between the two countries.

“There are calls that African countries should increase Intra African Trade as facilitated by the African Continental Free Trade Area AfCFTA. Currently, the trade volumes between Malawi and Mozambique are relatively low despite the proximity of major commercial and industrial hubs of the two countries. One way to grow trade is to forge linkages of the private sectors of the two countries,” said Dr Chakwera.

I am not In his remarks President Nyusi said the two countries will collaborate to ensure these agreements become practical so that the people of the two countries benefit.

Dr Chakwera also toured pavilions of different goods and services that Malawians and Mozambicans are doing in a quest to enhance trade.

The signing of the agreements follows a series of other meetings that Mozambique and Malawi have been having aimed at enhancing trade, industrialisation and investment in the two countries.