Ministry of Industry and Trade has said Malawi stands to reap maximum benefits from 11 projects under the Zambia-Malawi-Mozambique Growth Triangle (ZMM-GT).
The projects are in the sectors of mining, energy, tourism, infrastructure, trade facilitation, agriculture and irrigation, transport and communication, among others.
Delegates from the three countries under the (ZMM-GT)â€”a public, private sector partnership for sub-regional developmentâ€”will meet this month in Chipata, Zambia, to examine and, possibly, approve projects that have been proposed under the initiative.
The meeting will be held under the sponsorship of the United Nations Economic Commission for Africa (Uneca) who are also facilitating the activities of the initiative.
The ministryâ€™s spokesperson Wiskes Nkombezi said this week if successfully implemented, the projects will create jobs, expand base for tradable goods across the three countries and help improve infrastructure that connects them.
â€œThe Zambia-Malawi-Mozambique Growth Triangle (ZMM-GT) is an initiative aimed at enhancing trade and investment in the three neighbouring countries by harnessing the resource endowment through private sector participation and creation of improved infrastructure.
â€œMalawi subscribes to regional and sub-regional integration initiatives such as the ZMM-GT because it derives a lot of benefits through cooperating with other countries in trade and investment,â€ he explained.
The rationale for the establishment of the ZMM-GT is rooted in the likely benefits of enhanced economic development to be derived from production linkages, economies of scale, positive externalities within the framework of sub-regional cooperation and enlarged marketing.Â
Nkombezi said the ZMM-GT will further strengthen the small producersâ€™ capabilities and expanded market potentials for the promotion of trade, production and investment activities in the value chains across borders.
He also said the initiative will soon move the secretariat from Zambia to Malawi to be under the Malawi Investment and Trade Centre (MITC).
Mozambique will continue to host the resource mobilisation and anchor the capital arm of the ZMM-GT.
The research and development component will be transferred to a facility in Zambia from Bunda College of Agriculture now Lilongwe University of Agriculture and Natural Resources in Lilongwe.
ZMM-GTâ€™s work includes harmonisation of trade and international policies, attention to visas, employment residence issues, and security issues.
But finding financial support for the initiative has not been easy.