Harare, (New Ziana) – The Zimbabwean investment and trade promotion agency, ZIMTRADE, is preparing to lead a mission to Blantyre, Malawi, in May this year to explore market opportunities in that country.
According to the latest ZIMTRADE newsletter, the strategic initiative, to be undertaken from May 13 to 15, aims to foster business partnerships, enhance export markets and provide valuable insights into local market operations.
The three-day mission will feature a business forum, showcasing trade opportunities, scheduled B2B meetings, a trade exhibition, as well as company and factory tours.
These activities are designed to facilitate business networking, providing participating companies with a platform to establish meaningful connections and gain a deeper understanding of the Malawian market.
Zimbabwean companies from various sectors, including agricultural inputs and implements, fast-moving consumer goods (FMCGs), building and construction, household and office furniture, packaging, and personal protective equipment (PPEs), will be represented on the mission.
According to online database on international trade statistics provider Trade Map, Zimbabwean exports to Malawi have experienced significant growth, more than doubling from $11.1 million in 2022 to $27.4 million in 2023.
Key products exported to Malawi include paper, mineral fuels and oils, electrical machinery, and ceramics. Meanwhile, imports from Malawi increased from $50.1 million in 2022 to $51.1 million in 2023, with arts and crafts, tobacco, and wood being the primary products imported.
The long-standing trade relationship between Zimbabwe and Malawi, bolstered by a Preferential Bilateral Trade Agreement signed in 1995, provides a solid foundation for increased trade cooperation.
As members of the Common Market for Eastern and Southern Africa (COMESA) and the Southern African Development Community (SADC), both countries enjoy duty-free and quota-free trade, making Zimbabwean products more competitive in the Malawian market.
Malawi’s homogeneous market, with similar consumer preferences and buying habits to Zimbabwe, presents opportunities for Zimbabwean businesses to expand their export market. The country’s proximity to Zimbabwe reduces logistics costs, making Zimbabwean products more competitive.
The growing construction industry in Malawi also offers prospects for suppliers of building materials and services, while the agro-based economy presents opportunities for companies in agriculture inputs and implements.
By participating in this trade mission, Zimbabwean companies can tap into the vast potential of the Malawian market, establish meaningful business partnerships, and gain valuable insights into local market dynamics and consumer preferences.
New Ziana
