Malawi is set to benefit from enhanced technical cooperation with UNCTAD to accelerate industrialisation, create jobs, and increase export value.
This follows a meeting between Foreign Affairs Minister George Chaponda and UNCTAD Deputy Secretary-General Pedro Manuel Moreno at the UN General Assembly in New York.
Key areas of support include, mSineral value addition where UNCTAD will provide expertise to identify minerals that can be processed locally into higher-value products, along with related investment opportunities and job potential.
This will help Malawi move away from exporting raw materials and retain more economic value from its natural resources.
The other area is digital trade,where through an eTrade Readiness Assessment, UNCTAD will identify gaps in digital payments, regulations, consumer protection, and logistics that hinder businesses from accessing regional and international markets.
The assessment will provide a roadmap for reforms to expand digital commerce and SME exports.
Then the other support will be on debt and development financing, Malawi will be invited to join the UN Borrowers’ Platform to share experiences and access knowledge on debt and development financing.
UNCTAD also encouraged high-level Malawian participation in the World Investment Forum.
The cooperation forms part of Malawi’s economic diplomacy strategy to attract productive investment, expand exports, strengthen domestic productive capacity, and reduce dependence on external support.
It is expected to support Malawi’s economic transformation from developing new mineral-based industries and jobs to opening digital markets for SMEs and strengthening capacity to attract investment and finance development.
