MITC up with exporters awards on April 5

LILONGWE-(MaraviPost)-In a bid to create export awareness while encouraging Malawians into businesses venture Malawi Investment Trade Centre (MITC) has organised Malawi Exporters Awards (MEA) slated for April 5 to 6, 2023 at Bingu International Convention Centre (BICC) in the capital Lilongwe.

The MEA 2023 also aims at award best performers in the different categories as a recognition of their great contribution to forex generation, employment and hence, wealthy creation.

The nine categories for the awardees including Malawi exporter of the year, Emerging exporter of the year, Best innovation and value addition, Best female exporter, Best youth exporter, Best cooperative exporter, Best services exporter, Best financial services sector and Best non-traditional exporter

MITC has secured MK108 million from different partners, with Eco bank being the main sponsor providing MK30 million.

MITC Chief Executive Officer Paul Kwengwere told the news conference on Friday, March 31, 2022 that exports generate the much-needed foreign currency that is used to finance import bill hence the initiative to encourage more Malawians into business.

“In the last decade, our country’s performance in international trade has not been very encouraging. We have witnessed a decline in exports and an increase in imports hence a worsening trade balance – the difference between goods exports and goods imports,” he said.

Kwengwere added, “For instance, goods exports have declined from about US$1.29 billion in 2012 to US$1.02 billion in 2021, representing over 20% fall, while goods imports increased from about US$2.7 billion in 2021 to about US$3.1 billion in 2021 representing a 16.9% rise. Thus, it can be said, while our appetite for foreign goods has been growing, our ability to produce for foreign markets had been declining. This has put our economy at a disadvantaged balance of payments position.

“It is in view of the above dilemma, Ladies and Gentlemen that the government developed the second National Exports Strategy one of whose goals is to increase exports of “Made in Malawi” products and services to the regional and global marketplace. The target is to grow exports at an annual rate of at least 5.6% between 2021 and 2026“.

MEA 2023 will be spiced up by exhibitions, panel discussion on issues that affect productivity, forex and gala dinner on April 6, 2023.

Lloyd M’bwana

I’m a Lilongwe University of Agriculture and Natural Resource (LUANAR)’s Environmental Science graduate (Malawi) and UK’s ICM Journalism and Media studies scholar. Also University of Malawi (UNIMA) Library Science Scholar. I have been The Malawi Country Manager and duty editor for the Maravi Post since 2019. My duty editor’s job is to ensure that the news is covered properly, that it is delivered on time, and that it is created to the standards set out in the editorial guidelines of the Maravi Post.