By Chimwemwe Mangazi:
Malawi Ambassador to China, Charles Namondwe, has attributed poor use of connections in embassies to failure by local traders to penetrate international markets.
Speaking on the sidelines of the Malawi day commemorations at the Beijing Horticulture Expo in China relationship last week, Namondwe said local traders would reap the most of the Malawi-China by working with the embassy there.
“There are several channels that traders can use to utilise this market. Unfortunately, embassies are thought of for Visas only,” Namondwe said
Nomondwe said working with embassies of the respective countries would expose local traders to potential markets and help them understand trade requirements.
He said local traders had potential of penetrating regional and international markets with products and services.
Namondwe said intensifying value addition efforts would local products become competitive in other markets.
Data available on the International Trade Centre trade map shows that Malawi was able to export $41 million worth of products to China in 2017 against $376 million worth of imports.
Malawi’s trade deficit stands at K1.2 trillion, an amount commentators have rated as too wide.
Today’s top business story: Top Commercial Banks In Malawi
- Inflation to average 27.1 percent in 2024 – The Times Group - March 1, 2024
- Airtel Africa, Cisco in digital drive deal – The Times Group - March 1, 2024
- National Bank of Malawi ranked best on regional ladder – The Times Group - March 1, 2024