MALAWI, ZIMBABWE RENEW 25-YEAR OLD TRADE PACT Featured

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Malawi and Zimbabwe on Monday renewed their 25-year old bilateral trade agreement that aims at boosting trade between the two countries. The first agreement was signed in 1995.

Gwengwe: Minister of Trade Gwengwe: Minister of Trade
13
July

Signing the agreement on behalf of Malawi in Lilongwe, Minister of Trade Sosten Gwengwe said with the pact in place, Malawian and Zimbabwean companies can export directly into each others’ territories using distributorship and agents.

At the ceremony, spiced by exhibitions fro 20 Zimbabwe companies, the country’s High Commissioner to Malawi, Dr Nancy Saungwenya commended Malawi Government for accepting to re-sign the trade agreement.

She encouraged companies to partner with local distributors in Zimbabwe for the benefit of market information trends and consumer buying patterns.

She said Zimbabwean companies can now open companies in Malawi and participate in tender bids, adding that there is need to focus on projects that are in line with the priorities of the governments of the two countries.

The main trade between Zimbabwe and Malawi as of 2019 include corrugated paperboard; cement; iron and steel structures; packing containers of paper, paperboard, cellulose wadding or webs of cellulose fibres; rough wood; agrochemicals, seeds, maize and fish.

Zimtrade promotion office has organised trade exhibition targeting strategic potential markets that are worth considering for business partnerships.

ZimTrade has facilitated its 20 local companies to participate at the Malawi Solo Exhibition for the first time which is being held under the theme ‘Zimbabwe-Malawi Trade Exhibition: Kulimbikitsa Ubale Pamalonda’.

Malawi and Zimbabwe are both members of COMESA and SADC regional economic blocs, meaning that local exporters registered under trading agreements and awarded originating status under either or both blocs can export duty-free and quota-free from Zimbabwe to Malawi.

Zimbabwe and Malawi also share a preferential bilateral trading agreement implemented in 1995, with 25% domestic value-added requirement and exporters can take advantage of this.

According to the Trade Map, the current status is that Malawi’s principal export markets are Belgium, Germany, Russia, South Africa, United States of America, Ukraine, Poland, Zimbabwe and the United Kingdom.

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