By Chisomo Phiri
Minister of Trade and Industry Sosten Gwengwe has urged Indian investors to explore opportunities in Malawi’s manufacturing sector, stressing the need for value addition to enhance exports.
Speaking on Wednesday at the India-Africa Business Conclave in New Delhi, Gwengwe highlighted the growing trade relationship between Malawi and India, with India being a key export destination for Malawian commodities like pigeon peas, soybeans, and mangoes.
He emphasized the need for value addition in these exports and invited Indian manufacturing companies to invest in Malawi’s manufacturing industry to support the government’s vision of enhancing agriculture, tourism, and mining.
Gwengwe acknowledged India’s significant role as a source of foreign direct investment in Malawi, with investments in agriculture, trading, textiles, tourism, health, and ICT sectors.
However, he also highlighted challenges like high tariffs on key exports and inadequate production in existing value chains.
The minister advocated for enhancements in preferential tariff schemes for Least Developed Countries like Malawi and pressed for consistent trading arrangements with minimal barriers.
He reiterated Malawi’s commitment to strengthening its strategic partnership with India, especially in evolving global circumstances.
Gwengwe invited Indian investors to leverage Malawi’s stable political environment and peace-loving populace, assuring them of lucrative returns on their investments.
He thanked the Government of India for their hospitality and commended the event organizers for providing a platform to discuss trade and manufacturing industry-related matters.
