By Linda Kwanjana
Malawi President Dr Lazarus McCarthy Chakwera who is in Angola for the 43rd SADC Summit had an opportunity to hold bilateral talks with Angolan President João Manuel Gonçalves Lourenço.
Chakwera during the talks agreed to utilize the Lobito Corridor Transit Transport Facilitation Agency (LCTTFA).
Angola, Democratic Republic of Congo and Zambia, signed the Lobito Corridor Transit Transport Facilitation Agency (LCTTFA) with the aim of providing an effective and efficient route that facilitates the transportation of goods within territories between the three Corridor Member States.
The agreement looks at harmonisation of policies, laws and regulations; coordinated joint corridor infrastructure development strategies and activities; dissemination of traffic data and business information; and implementation of trade facilitation instruments to support greater participation of small and medium enterprises (SMEs) in business value chains mainly in agriculture and mining.
Overall, the agreement aims at increasing trade and economic growth along the Lobito Corridor and across the SADC Region.
Writing on his Facebook page president Chakwera believes that the LCTTFA will do magic to unlock trade and regional integration.
Speaking soon after holding bilateral talks with his Angola counterpart, who is also the incoming Chairman of SADC, chakwera said he was happy with the activation of LCTTFA.
“I am delighted to inform you that Malawi has expressed interest in accessing the Lobito Corridor Transit Facilitation Agency Agreement and the Lobito – Lusaka Oil Pipeline Project and we have received firm assurances to the same,” said the Malawi leader.
Chakwera said the treaty mainly focuses on areas of energy and oil, mining, transportation, infrastructure development, agriculture, defence and security, trade and investment.
Despite Malawi being a landlocked economy, we are advantageously positioned to utilize both trade routes, eastwards to the Indian Ocean and westwards to Atlantic Ocean through two important harbors, Port of Lobito in Angola and Nacala Port in Mozambique.
The Lobito Corridor Transit Transport Facilitation Agency will provide alternative trade route for importers and exporters from the DRC and Zambia and improve international and domestic traffic levels to Malawi.
The Corridor presents an opportunity for the three Member States to establish and consolidate cooperation in the movement of people and goods; ensure cooperation in rail and road traffic; provide a more efficient and effective route for the inland transportation of goods between the three countries and the sea; guarantee the right to transit in order to facilitate the movement of goods through their respective territories.
LCTTFA will help Malawi transact business without unnecessary delays with regard to the movement of goods in transit through their territories.
The Lobito Agreement will unlock the business potential along the corridor through participation of SMEs in the various value chains and boost private sector investments, create jobs, and foster economic growth in the three SADC Member States.
