Egyptian Ambassador to Malawi Mohamed El-Sharif has disclosed that his country is in talks with Lilongwe over a possible barter deal for agricultural produce in exchange with fertiliser.
El-Sharif revealed this to The Daily Times on Monday night, on the sidelines of celebrations marking Egypt’s 71st Anniversary of the Revolution Day (National Day).
The revelations by El-Sharif come barely a month after a similar barter trade arrangement between the Government of Malawi and Romanian firm, East Bridge, opened a can of worms.
According to El-Sharif, Egypt is interested in commodities such as tea, coffee, rice, tobacco and groundnuts in exchange with fertiliser.
He said Egyptian President Abdel Fattah El- Sisi recently met President Lazarus Chakwera in Lusaka, Zambia, where the issue was also discussed.
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“The two leaders, and the two authorities in Egypt and Malawi, discussed how to make the exchange of goods and fertiliser in return for Malawian goods like tea, rice, tobacco and groundnuts.
“I think we are hammering on three critical areas, [including] power stations, [especially] on how to avail ourselves to help Malawi in this field, to complete its capacity for the megawatts needed for the Malawian people,” he said.
El-Sharif added that Egypt is also willing to help Malawi grow in the health sector.
Public Procurement and Disposal of Assets Authority spokesperson Kettie Kujaliwa was not immediately available for comment on whether her institution is aware of a barter trade deal between Malawi and Egypt.
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Foreign Affairs Minister Nancy Tembo said, during their recent visit, El-Sisi and Chakwera explored avenues for promoting trade and economic cooperation between the two countries.
Tembo said Egypt and Malawi have fostered a strong bond that is built upon mutual respect, shared values and a commitment to cooperation.
Tembo said, over the years, Egypt has been a steadfast partner in Malawi’s pursuit of achieving Agenda 2030 and Malawi 2063 goals.
“In the area of trade and investment, Egypt remains an important trading partner of Malawi. Malawi engages Egypt in a mutually beneficial trade under the Common Market for Eastern and Southern Africa.
“You may wish to note that the Government of Malawi has instituted numerous initiatives, including legislation and institutional frameworks, to improve the ease of doing business in Malawi. In this regard, we invite Egyptian investors to open factories which will specialise in value addition of our products, including cigarette manufacturing,” Tembo said.
