Malawi’s Minister of Industry and Trade Sosten Gwengwe has bemoaned low trade volume between Malawi and Mozambique and has urged the country’s businesspeople to utilise opportunities prevailing in the former Portuguese colony.
Gwengwe said this at Park Inn in Tete, Mozambique on Wednesday during a Malawi-Mozambique two-day business forum.
The forum pooled together Small and Medium Enterprises (SMEs) in both Mozambique and Malawi who showcased various products and shared business experiences.
“Total trade between Malawi and Mozambique is still very low, but we know there is huge trade and investment opportunity between the two countries,” said the minister.
Gwengwe said government is committed to ensuring that more trade exists between Malawi and its neighbouring countries such as Mozambique.
“If one imports rice from as far as China, by the time it reaches Tete, it is something else like rice. I encourage trade between each other more,” said Gwengwe, attracting laughter from delegates.
He wooed potential investors from Mozambique to come and invest in Malawi where, he said, there are liberal investment policies, investor protection and freedom to repatriate foreign exchange.
Mozambique Investment Centre chief executive officer Nuno Maposse also lured Malawi investors to come and invest in Mozambique, saying the country ranks as the third most stable country in Africa and 48th in the world, according to the global peace index of 2012.