By Mercy Matonga:
Malawi hopes to expand its trade relations with India and boost its exports in order to strengthen the country’s economy, President Lazarus Chakwera has said.
Chakwera made the remarks at Kamuzu Palace in Lilongwe Monday, when he hosted Indian officials during the official handover of a donated diagnostic machine via a foundation led by First Lady Monica Chakwera.
In his address, President Chakwera highlighted the numerous business opportunities that have emerged as a result of cooperation with the Indian government.
He said the opportunities are in line with Malawi’s 2063 vision, a long-term development plan for the country.
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“Over the years, Malawi and India have concluded agreements and memoranda of understanding (MoU), including what has just happened most recently, with Malawi investing in all these crops and other areas. This will greatly complement the country’s 2063 [vision] goals,” Chakwera said.
The President added that the Government of Malawi is working hard to improve crops that can compete in international markets.
Trade and Industry Minister Sosten Gwengwe said, during the past two weeks, 37 delegates from India have signed 16 MoU in various sectors, demonstrating the commitment of both parties to strengthen bilateral trade.
Gwengwe acknowledged that while Malawi has faced challenges in fulfilling previous commitments to supply soya beans and peas to India, the newly introduced mega farms are expected to significantly increase the country’s harvest capacity.
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“Our agriculture has primarily relied on subsistence farming and the fragmentation of our land has posed challenges in achieving consistent production. This is why the President has advocated for the consolidation of land through mega farms as it will ensure sustainable production to meet market demand,” Gwengwe stated.
On his part, leader of the Indian delegation, who is also Trade Commissioner in Malawi, Sunil Hakumatray, said there is potential for business growth in Malawi and that that is the reason India is interested in doing business with the Government of Malawi.
“There are many potential businesses here. During our time, we have explored and met with potential business partners, [such that] one of our business partners is now interested in tourism and we expect that these operations will start very soon,” Hakumatray said.
In 2021, Malawi signed an MoU to supply over 300 tonnes of soya beans and peas to the Indian government.
However, the country has faced challenges in meeting the demand.
