By Mana
Minister of Trade and Industry, Simplex Chithyola Banda, has said Malawi will benefit greatly from the China-Africa Economic and Trade Expo (CAETE) by showcasing different products that the country produces, which possible investors in China can invest in.
The Minister said this in an interview on Tuesday, prior to President Dr. Lazarus Chakwera’s visit to China, where the Malawi leader has been invited to inaugurate the event as the guest of honour.
“This Trade Expo is a great opportunity for Malawi because we will be signing new deals and agreements that will bring economic opportunities in agriculture, tourism and mining sectors, which can increase Malawi’s forex base,” said Chithyola.
Earlier in the month, China gave Malawi an approval to export unlimited quantity of agricultural products such as soy bean, groundnuts and tobacco.
Malawian Ambassador to China, Allan Joseph Chintedza, said as a nation, Malawi will benefit from the CAETE because businesses that are exhibiting their products will get exposure to Chinese investors, who are willing to buy Malawi products in large volumes.
“I am happy to tell you that the President of Malawi, Dr. Lazarus Chakwera has been invited as the guest of honour. This means that the bilateral relationship that Malawi and China share is good and beneficial to both countries,” he added.
Chintedza said President Chakwera had emphasised the need for Malawi to increase foreign direct investment, which is key to the growth of the economy of Malawi through gross domestic product, as well as helping the country to generate domestic revenue.
The Ambassador further described the presence of Malawi’s embassy in China, the second largest economy in the world, as “an opportunity to woo as many investors as possible to invest in Malawi” so that the country can have direct foreign investment, which can promote the President’s agenda.
“The president emphasises to the nation on the need to increase investments in Agriculture, Tourism and Mining (ATM) as one way of boosting the economy of Malawi
“This is why we are actively engaging in this year’s China-Africa Economic and Trade Expo as it is happening in the agricultural province of China,” said the Ambassador.
Besides attending the CAETE, Chakwera will open the first Consulate General in Hunan, a province whose economy relies on agriculture and where all the trade expos have been held previously.
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