The Malawi Government through the Ministry of Trade and Industry has underscored the need for value addition in various products for Malawi to increase trade benefits.
Minister responsible, Sosten Gwengwe said this during the India-Africa Business Conclave’s Special Plenary Session in India on Wednesday.
Gwengwe said the good relationship between Malawi and India facilitates the exportation of Malawian commodities such as pigeon peas, soybeans, mangoes, macadamia nuts, chillies, groundnuts, and pulses.
“There is an urgent need for value addition in these exports. I urge Indian manufacturing companies to make substantial investments in Malawi’s Manufacturing industry to effectively support the government in realizing the President’s Vision of Agriculture, Tourism, and Mining (ATM) Strategy,” said Gwengwe.
The Minister also acknowledged the hitches hampering trade, like high tariffs on key exports like mangoes and macadamia nuts.
He emphasized the need to advocate for enhancements in preferential tariff schemes for Least Developed Countries (LDCs) like Malawi to intensify trade benefits.
Gwengwe also acknowledged the inadequate production in existing value chains and logistical hurdles encountered by land-linked Malawi in transporting goods to and from India hence the need for decisive actions by relevant authorities to address these issues.
Gwengwe however urged Indian investors to invest in the country as Malawi is peaceful and has a stable political environment conducive to business.
