In a bid to contain the mushrooming of counterfeit products entering into Malawi and Tanzania, Malawi’s Competition and Fair Trading Commission (CFTC) has signed a memorandum of understanding (MOU) with its counterpart Fair Competion Commission of Tanzania.
The MOU comes amid escalation of fake products on the market which needed urgent attention to control the situation with such cooperation agreement.
Speaking in an interview in the capital Lilongwe after the signing celemony, Joseph Mwanamveka, Minister of Trade and Industy warned those involved in the misconduct that the agreement would truck them down saying people of these two counties deserve better products than what was offered by traders on market.
Mwanamveka said the agreement would also smoothen movement of goods and products of the two countries which might catalyse economic growth.
“This is a rare opportunity for Malawians traders and their counterparts in Tanzania to do business better than before based on this MOU which will facilitate movement of quality products and truck down all counterfeit products as people of these two countries deserve better life”, said Mwanamveka.
In his remarks, Dr Frederick Ringo, Director General of the FCC Tanzania expressed gratitude for the agreement saying that would improve business climate between two countries.
“Malawi has been our strategic partners in trading. Therefore, with the cooperation agreement signed, we expect conducive environment for doing business”, assures Dr Ringo.
