AfricaKenya and Malawi Sign Eight bilateral pacts Set to boost trade, investments

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Kenya and Malawi have inked eight new agreements designed to boost bilateral relations including trade and investments between the two nations.

The agreements cover broad areas of cooperation between Kenya and Malawi in politics, diplomacy, defence, fisheries and aquaculture as well as cooperative development. Others are technical cooperation in health and tourism.

The signing of the agreements took place on Thursday in the statehouse, Nairobi, at the end of bilateral talks between Kenyan and Malawian delegations led by President Uhuru Kenyatta and his Southern Africa counterpart Lazarus Chakwera who is in the country for a three-day state visit.

President Kenyatta said the pacts would enable Kenya and Malawi to take advantage of the African Continental Free Trade Area (AfCFTA) the new continent-wide free trade that took effect from January this year.

“Through these multilateral platforms Kenya, Malawi and other African countries have an excellent opportunity to explore tangible approaches to build strong and resilient African economies, post Covid-19,” President Kenyatta said.

The pacts come at a time Kenyan manufacturers have been scouting for cheaper channels of getting goods into Malawi in a campaign that has sought to significantly improve the volume of exports to the southern African countries.

“This meeting has given fresh importance for us to take our relationship to the next level, currently trade between the two countries stands at Kes 7 billion but there is more potential to be realised and JPCC provides a platform for areas of engagement, cooperation, trade and commerce. we want to see more Malawian products including Malawi Gin, sugar, and legumes on the Kenyan market.” Chief Administrative Secretary for Foreign Affairs, Ababu Namwamba.

The meeting has preceded a three-day visit of Dr Chakwera who has an agenda of enhancing Malawi’s relations with its neighbours. The Malawi leader and his counterpart President Uhuru Kenyatta of Kenya have agreed to urgently revive the Cooperation cognizant of the various opportunities between the two countries

Trade between the two nations was valued at Kes 7 billion last year with Kenya holding the bigger share of Kes 4.1 billion. Imports from the South African Country stood at Kes 2.98 billion during the same period.

Kenyan industrialists said earlier they are seeking new trade linkages that will allow them to establish joint ventures with Malawians, beating official and unofficial barriers to trade.

Read also; KEPSA and CCA Sign Kenya-U.S SME Trade Initiative Agreement to Support SMEs.

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