Propounding The Essence Of Trade Agreements With Specific Protocols
Small and Medium Enterprises (SMEs) in the country have all the reasons to smile as they are set to benefit from trade opportunities for locally manufactured goods which will be exported across the continent through the African Continental Free Trade Area (AfTCTA)
During a recent two day training of small and medium entrepreneurs in Mzuzu, the Deputy Director of Investments in the Ministry of Trade and Industry, Diamond Chikhasu assured participants that the sensitization on rightful trade processes will among others enable SMEs to pay for all their goods and services in local currencies since central banks will be directly involved simplifying some trade barriers and cushioning inflation and exploitation.
“Free circulation of goods will enable those involved in value addition to gain more from locally manufactured products, these agreements can also help producers will be alert on the rules of origin for their goods qualify the market standards as stipulated in the trade protocols,” said Chikhasu.
On the fears that regional trade giants may dominate the market, Chikhasu said Malawi has it’s own cooperative advantage to leverage on to maximize utilization to attract profit.
Commenting on the current economic situation an International Trader Expert and former Director of Trade, Harrison Mandindi bemoaned continued oversimplification of export trade hampering promotion of exports.
“There is need to follow through the export trade chain, which includes product packaging, pricing and transportation of goods using all modes of transport, with proper transport documentation, export financing including letters of credit, bank guarantees and the role of foreign banks, export sale contracts, insurance, dispute settlement mechanisms and arbitration,” Mandindi said
The trade expert also clearly illustrated on how all supporting elements of export trade in theory and practice, can achieve more..
Recently the Foreign Affairs minister, Nancy Tembo met the Managing Director of Corporate Services at the United Nations Industrial Development Organization, Investment and Technology Promotion Office, (U,NIDO ITPO) Dr. Yuko Yasunaga on the sidelines of the TICAD8 Summit. 7 in Tunis, Tunisia where she Introduced the Malawi2063 blueprint covering three pillars namely: agriculture productivity, industrialization and urbanization.
“We managed to explored UNIDO/Malawi partnership to unlock the implementation of flagship programmes under the industrialization pillar, the country hopes to benefit from the facilitation of special agro-processing zones and investment promotion programmes with technical assistance from UNIDO,” Tembo said
GIZ Support Programme, the AfCTA Malawi Component was targeting 150 Small and Medium Enterprises from the private sector fostering integration efforts among continental member states leading to the establishment of the regional economic blocks.
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