Malawi Sets Target of Increasing Its Bilateral Trade with Zimbabwe
Malawi has set a target of increasing its bilateral trade with Zimbabwe during the next few years as part of a regional free trade pact, outgoing Malawian ambassador Richard Phoya said on Friday.
Speaking after meeting Acting Zimbabwean President Joice Mujuru in Harare, Phoya said Malawi has set its sight on promoting greater trade with Zimbabwe.
“We are hoping to promote trade between the two countries,” Phoya told journalists after the meeting.
There is already significant trade between Malawi and Zimbabwe, ranging from agricultural commodities to processed food products among others.
Both countries are members of the Common Market for Eastern and Southern Africa (COMESA) and the Southern African Development Community (SADC) which launched free trade areas in 2000 and 2008, respectively.
The two countries launched a simplified trade regime in October last year that allows cross border traders to import and export goods below $1,000 duty free.
The simplified trade regime, which is being implemented under the auspices of the COMESA free trade area, removes import duty for cross border traders trading in products that originate in either country.
The mechanism reduces the cumbersome paperwork often associated with customs clearance at ports of entry and is expected to improve trade between the two COMESA member states.
Source African Press Agency
African News from NetNewsPublisher.com
Category: Africa
