Veep moves to boost trade ties with Dubai
Vice-President Saulos Chilima says trade between Malawi and the United Arab Emirates (UAE) will increase once all trade protocols and agreements they have entered into are signed and fulfilled.
Speaking on Saturday in Dubai, UAE when he officially opened the Malawi National Day at the ongoing delayed Dubai Expo 2020, the Veep touted Malawi as the best destination for foreign direct investment (FDI) with investment opportunities in tourism, mining, energy, agriculture commercialisation and agro-processing and manufacturing, among others.
“Malawi is ready to do business and also to welcome investors and visitors to enjoy our vibrant culture and experience our beautiful Lake Malawi and wildlife. We are the Warm Heart of Africa,” Chilima said.
The Veep implored investors to invest in Malawi, saying it is a good market considering that it is a member of the Common Market for Eastern and Southern Africa, Southern African Development Community and recently ratified the African Continental Free Trade Area
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Chilima said Malawi has made strides to remove obstacles for investors. Here, he cited the operationalisation of the online visa application and the establishment of the service centre at the Malawi Investment Trade Centre (Mitc).
He said by the end of the expo in March 2022, Malawi targets to clinch business deals worth $400 million (about K330 billion).
The Veep said the Dubai Expo 2020 is a landmark event in bilateral relations between Malawi and UAE.
Chilima told investors that Malawi is endowed with unexploited mineral resources, including agro-minerals for fertiliser production such as phosphates, feldspars and limestone; energy and industrial minerals such as bauxite, iron, gypsum, coal, and uranium.
He said: “We are also endowed with beautiful and unique tourist spots such as Lake Malawi, Mulanje Mountain, national parks and game reserves which are home to the Big Five [Lion, Leopard, Rhinoceros, Elephant and Buffalo], and many more cultural and historical sites.”
Speaking earlier, UAE Minister of Tolerance His Highness Sheikh Nahyan bin Mubarak Al Nahyan said UEA wants to build a good relationship with Malawi for the mutual benefit of the people of the two countries.
He said the expo is an opportunity for enhancing trade among participating countries.
Chilima, who arrived in Dubai on Wednesday night, is representing President Lazarus Chakwera at the expo and is leading a team comprising Minister of Trade Sosten Gwengwe, Minister of Mining Rashid Gaffar and other government and private sector officials.
The Dubai Expo 2020 has attracted participants from 192 countries.
Malawi has a pavilion showcasing its products and services led by Mitc.
Malawi’s theme at the expo is Land of Opportunity and Hope while the Dubai Expo 2020 theme is Connecting Minds, Creating the Future.
The expo was originally scheduled for October 2020 to April 2021, but was shifted to October 2021 to March 2022 due to the Covid-19 pandemic.
—Additional reporting by PILIRANI PHIRI, Office of the Vice-President
