Private sector players under the Malawi Confederation of Chambers of Commerce and Industry (MCCCI) and Small and Medium Enterprises say they are ready for competition under the Africa Continental Free Tarde Area (AfCFTA).
The government with AfCFTA implementation partners, has been enlightening stakeholders on the markets for Malawian products and requirements for products in different categories.
There have been fears that the country would turn into a dumping site due to its insatiable appetite for imports with an infant manufacturing industry.
But MCCCI President James Chimwaza Tuesday said the industry was ready for the commencement of trade on July 1.
“Some levies have been removed from some products and that is part of gearing up so that we are competitive and all sides are working to arrive at equilibrium,” he said.
Chamber for Small and Medium Businesses Executive Secretary James Chiutsi said SMEs were equally ready to reap from the pact.
“We still have a lot of products with no value added. This has been a wakeup call for us so that we should enhance our efforts in value addition so that we can compete at the international market,” Chiutsi said.
Minister of Trade Sosten Gwengwe said the government was also ready and committed as reflected in the 2021/22 National Budget.
The pact was ratified by countries in January to allow the movement of goods and services between countries without huddles.
AfCFTA would form an African market where 54 African member states will be trading among each other with reduced or removed taxes on certain products.
Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk.
He is however flexible as he also writes about current affairs and national issues.