Minister of Trade Sosten Gwengwe says Malawi Government wants more Malawians, particularly women and youths, to venture into cross-border trade and is also looking to increase the volume of processed products which Malawi exports to countries such as Zimbabwe.
Minister of Trade Sosten Gwengwe made the statement on Monday at the opening of ZimTrade Malawi solo exhibition official opening at BICC in Lilongwe.
The two countries signed a memorandum of understanding (MoU) on trade of 2021.
Speaking with reporters, Gwengwe said Malawi wants to encourage citizens, majority of whom are women and youths, to venture into cross-border trade and that is why the current budget increased an arrangement called simplified trading regime under Common Marketing for Southern Africa (COMESA) from US$D2000 to US$D3000.
“This trade regime is between three countries Malawi, Zimbabwe and Zambia. We would want our women and youths to trade more by increasing our volume but beyond that we would also want to export a lot more of our processed and semi-processed products especially the agriculture products to Zimbabwe. All we need is to have takers to Zimbabwe that’s is why we have this kind of exhibition but it will also benefit Zimbabweans and we are hopeful for strong trading ties,” he explained.
He added that deepening trading relations between neighboring countries is very important because it gives opportunity to traders to interact and learn new skills of trading which in the end boosts economies.
On her part, Zimbabwe’s Ambassador to Malawi Nancy Saungweme noted that the memorandum of understanding between the neighboring countries also contributes to ease transportation because the same MOU assists people when crossing borders.
She went on to say that they are interested to exchange knowledge with Malawi on trading especially on construction, mining and food processing.