BLANTYRE-(MaraviPost)-Minister of Trade, Industry and Tourism Simon Itaye has said Malawi’s poor performance in producing and exporting goods is undermining efforts to grow the economy.
Speaking on Thursday at the official opening of the 36th Malawi International Trade Fair at Chichiri Trade Fair Grounds in Blantyre, Itaye urged the private sector to take advantage of the country’s natural resources to manufacture products for the export market.
“Malawi is not doing well in production and export, and this is affecting economic development,” Itaye said. He stressed that the country should move away from heavy reliance on imports and instead focus on local manufacturing to generate more foreign exchange.
The minister called on businesses to invest in value addition, saying this would help create jobs, expand the export base, and reduce the trade deficit. He added that strengthening local production aligns with government’s agenda of building a self-reliant and resilient economy.
The trade fair is being organized by the Malawi Confederation of Chambers of Commerce and Industry in partnership with the Ministry of Trade. This year’s event is running under the theme “Promoting Economic Stability through Manufacturing and Industrialization.”
MCCCI President Ronald Ngwira acknowledged that participation by foreign companies has declined in recent years due to Malawi’s foreign exchange challenges. Despite this, he said local businesses continue to benefit from the platform by building networks and exploring new markets.
About 200 companies, including exhibitors from Mozambique, India, South Africa, Zimbabwe, and Tanzania, are taking part in this year’s fair. The week-long event provides a platform for local and foreign firms to showcase products, share innovations, and explore trade and investment opportunities.
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