The Malawi Investment and Trade Center (MITC) says it is working to explore potential markets for Malawian products in neighboring countries which experts agree have been neglected for long.
Under a project called Enhanced Integrated Framework – EIF – the ministry of trade through the MITC has opened an office in Tete, Mozambique to facilitate trade between the two countries.
The EIF is a joint initiative of various international organizations including the World Bank, IMF and the World Trade Organization aimed at addressing trade related challenges facing least developed countries.
“The office in Tete is up and running through the Malawian Consulate in Tete and we have our officer on the ground,” said Maxwell Biwi – director of trade facilitation at the MITC.
He admitted Malawi has for long concentrated on global markets, leaving out potential ones in neighboring countries.
Biwi also announced: “The MITC has currently engaged a consultant to establish critical economic zones in Malawi.”
Local producers, agro-processors and exporters met in Lilongwe Tuesday to discuss progress the Enhanced Integrated Framework has made since its introduction in 2011.
They bemoaned inaction to address long standing hindrances to doing business in Malawi which include inadequate power and a volatile exchange rate.