Malawi to promote trade ties with Zimbabwe

The Ministry of Trade says it is eying for more trade volumes between the country and Zimbabwe.

The line Minister, Sosten Gwengwe, said this during the three day Malawi- Zimbabwe  Solo Trade Exhibition 0f 2021 which is currently underway at BICC in Lilongwe.

Gwengwe said increasing the trade volumes among the two countries will go a long way in boosting the country’s economy.

He said last year the country exported dried legumes, manufactured tobacco and plastic household items among other things worth 35.3 US Dollars to Zimbabwe, and in return Zimbabwe exported goods worth 32.1 US Dollars to Malawi during trade.

He added that in the just passed 2021/2022 national budget, government has increased the COMES simplified trade regime threshold from 2,000 US Dollars to 3,000 US Dollars to help boost cross border trade with Zambia and Zimbabwe respectively.

“Malawi has losts of potential to benefit from trade and exports, that’s why we need to strengthen our trade ties with the neighboring countries,” he said.

He added: “The current administration is focusing more on commercializing the agricultural sector as such there are high hopes that we will have increase in exports and benefit from the cross boarder trade.”

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