Local Firms Urged To Tap Into Malawi's US$3 Billion Import Spending

ZimTrade has urged Zimbabwean firms to tap into Malawi’s $3 billion spendings the Chronicle reports. This is coming after ZimTrade conducted a market survey in Malawi and discovered commodities needed in that country which Zim local firms can supply to Malawi.

According to the Chronicle:

…good export opportunities for fast moving consumer goods, construction, furniture, household products, agricultural inputs and implements. Taking advantage of Malawi’s proximity and growing economy mainly on the supply sectors, local companies can grow national export earnings to about US$6 billion, said ZimTrade.

At the moment Lilongwe enjoys a trade surplus of about US$31 million against Zimbabwe. ZimTrade said its market survey has shown that Malawi’s retail sector was estimated at US$2 billion with more than 70 percent of that amount traded in the informal sector, which have less requirements than formal trade, making it a viable route to market Zimbabwean businesses.

Malawi is one of the region’s poorest countries with a GDP per capita of about US$389.

More: The Chronicle