ZimTrade, MITC sign partnership agreement
Zimbabwe’s trade development and promotion agency, ZimTrade, and the Malawi Investment and Trade Centre (MITC) yesterday signed a memorandum of understanding (MoU) aimed at facilitating mutually beneficial partnership in promoting trade development and enhancing exports in both countries.
The deal paves way for the two state entities to work together in increasing business collaboration and enhancing bilateral relations.
ZimTrade operations director, Mr Similo Nkala signed the MoU here together with MITC director of trade promotion and facilitation, Cindy Kacherenga Kibombwe.
The signing ceremony was witnessed by delegates who are attending the ongoing Zimbabwe Malawi Solo Trade Exhibition, which is also being attended by the Zimbabwean Ambassador to Malawi, Dr Nancy Saungweme, and Malawian Minister of Trade, Mr Sosten Gwengwe.
More than 20 Zimbabwean companies that are participating in the three-day outward trade mission will during the event engage Malawian buyers and potential investors.
After signing the MoU, the two parties pledged their commitment to scaling up collaboration, including appointment of focal persons to enhance information exchange, facilitate exchange visits, capacity-building and co-ordinate forums that promote mutual trade interests.
The MoU also covers harmonising costs and expenses as well as working together in dispute resolution.
In his presentation Mr Nkala said Zimbabwe was making inroads in reclaiming its exports share in the global market and that collaboration with Malawi was part of the broader game plan. He highlighted the vast export development capacity the country has and how, through diversification, Zimbabwe was geared to make impact as it builds its economy towards an upper middle-income status by 2030. The ideals of an export-led growth trajectory are already clearly outlined in n the country’s National Development Strategy (NDS1:2021-2025), which was launched by President Mnangagwa late last year.
Kacherengwa Kibombwe also said MITC was committed to working closely with ZimTrade and hoped the partnership would help unlock new opportunities for both countries.-heraldcl.zw
