Malawi and Zimbabwe are reviewing the 1995 bilateral trade agreement, to align with modern trade trends.
Trade Minister Sosten Gwengwe confirmed the development, signed a bilateral trade agreement in 1995 which allows duty-free imports on a reciprocal basis, provided the goods meet 25% minimum domestic content provisions and conform to each other’s standards.
The development was revealed during the opening of a three-day ZimTrade Solo Exhibition, where Zimbabwean High Commissioner Nancy Saungweme admitted that things have changed since 1995. “The agreement is outdated which is why we should review it.” she said, “We cannot continue with trade practices of the past when things have changed globally and between Zimbabwe and Malawi.”
Meanwhile, a statement by the Malawi Investment and Trade Centre (Mitc) has called on businesses in the country to cease opportunities by participating in the 61st Zimbabwe International Trade Fair (Zitf) and World Expo 2020 in Dubai.