Zim, Malawi urged to exploit cordial relations

MALAWI and Zimbabwe should leverage their cordial bilateral agreements to enhance trade and investment opportunities between the two countries, fostering stronger economic cooperation between the two nations.

Zimbabwe’s ambassador to Malawi, Dr Nancy Saungweme, said this during the ongoing outward seller mission to Blantyre, Malawi, which kicked off yesterday, in which 10 local firms are participating.

The two countries have a bilateral trade agreement, which was signed in 1995, allowing for duty-free imports on a reciprocal basis for goods meeting specific requirements.

By harnessing these agreements, both nations can unlock several opportunities, including increased trade volumes, enhanced economic cooperation, and promote investment.

She said these agreements help to strengthen economic ties between the two countries and stimulate sustainable economic growth.

Both countries, as members of COMESA and SADC, also enjoy duty-free and quota-free trade under these regional blocs.

“Trade between our two countries is strengthened by our Bilateral Trade Agreement, which offers tariff advantages, harmonised trade protocols and investment facilitation measures we must continue to leverage.

“Our bilateral trade has grown over the years, but there remains untapped potential.

“By fostering partnerships, reducing trade barriers, helping illicit trading, and improving cross-border efficiency, we can further boost trade,” said Ambassador Saungweme.

She, however, said Zimbabwe and Malawi had the potential to collaborate in various sectors like agriculture, construction, mining, and technology to unlock opportunities for growth and innovation.

The mission, targeting Blantyre, aims to fortify trade relations between Zimbabwe and Malawi, and its key objective is to increase Zimbabwe’s exports to Malawi’s growing market.

It builds on the success of the previous missions in 2022 and 2023, which yielded mutually beneficial partnerships that culminated in business orders and longstanding relationships with their counterparts in Malawi.

Speaking at the event, Malawi’s Minister of Labour, Peter Dimba, said the mission is a pivotal initiative that goes beyond a standard visit but is a deliberate effort to strengthen nation-building and significantly enhance the economic ties between Malawi and Zimbabwe.

“This mission represents more than a routine diplomatic or commercial visit. It is a strategic endeavour, a deliberate act of nation building, and a critical step toward deepening the bilateral economic relationship between Malawi and Zimbabwe,” said Minister Dimba.

Manager export development, Mrs Vuyiswa Mafu, representing ZimTrade CEO Allan Mujuru, said the mission would concentrate on several strategic sectors, including agricultural inputs and implements, fast-moving consumer goods (FMCGs), building and construction materials, household and office furniture, packaging, and personal protective equipment (PPEs).

“By targeting these areas, the mission aims to unlock significant opportunities for trade and investment between Malawi and Zimbabwe, fostering economic cooperation and growth.

“This engagement offers businesses a platform to showcase their capabilities and connect directly with potential partners, facilitating meaningful collaborations and business opportunities,” she said.

Zimbabwe is represented by a broad range of sectors which align with Malawi’s needs, including fast-moving consumer goods (FMCG), agro-processing, building, construction and packaging.

The outward seller mission feeds into the Government’s vision of diversifying export markets and products as stipulated in the National Export Strategy.

It creates an opportunity to meet and engage with potential buyers and distributors of Zimbabwean products and services in Malawi.

It is in line with ZimTrade’s mandate of facilitating business linkages between Zimbabwe and buyers from across the world.

It includes a business forum and B2B meetings, which will facilitate direct negotiations, exploration of trade opportunities, and deal-making, streamlining the business matchmaking process.

Statistics from TradeMap, an International Trade Centre (ITC) database, show that total trade between Zimbabwe and Malawi grew by 22,9 per cent to US$81,7 million from US$66 million in 2020.-herald