President Dr Lazarus Chakwera says the signing of two trade agreements between Malawi and Mozambique is key to opening of new opportunities to increase sustainable trade between the two economies.
The Malawi leader was speaking at Marracuene in Mozambique when together with his counterpart President Filipe Nyusi witnessed the signing ceremony of two memorandums of understanding on trade between Malawi and Mozambique.
The signing ceremony took place on the sidelines of the Malawi-Mozambique Business Forum which was organized as a platform for private sector stakeholders from both countries to seal own deals.
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 is negotiating for a one-stop border post, simplified trade regimes, good treatment of transporters from both countries, and the introduction of yellow cards for enhanced trade among others.
President Chakwera noted that 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,” he said.
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.
