
| Indian SME extending good hope for trade in Malawi | |
| by Arun Goswami on March 24th 2010 and filled under Utilities | |
| Malawi, or the republic of Malawi is a country in Southeast Africa. The country is primarily agriculture based. Around one third of the country’s GDP is constituted by agriculture, which accounts for about 85% of the export revenues. The prime or chief revenue generating export items include tobacco, tea and sugar. | |
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Malawi, or the republic of Malawi is a country in Southeast Africa. The country is primarily agriculture based. Around one third of the country’s GDP is constituted by agriculture, which accounts for about 85% of the export revenues. The prime or chief revenue generating export items include tobacco, tea and sugar. The country has witnessed a 7 % GDP growth in the year 2008-09. However, earlier Malawi used to depend on the international assistance for its growth and development of the GDP. But it started showing improved financial growth from 2005. The relation between India and Malawi has been very cordial as far as the trades are concerned. Of late, India has started expanding the platform for the trade between the two nations. India’s exports to Malawi accounted for about US $ 89.38 million during 2008-09 while the imports from Malawi stood at US $ 7.08 million during 2008-09; which accounted for total trade between the two countries being increased from US $ 63.34 million in 2004-05 to US $ 96.46 million in 2008-09. The main expert items from India include machinery and instruments, textiles yarns, pharmaceuticals, fabrics and transport equipments. Lately both the countries have decided to extend co-operation in sectors like SME, IT and agriculture. In order to promote the growth of MSME in both the nations, the National Small Industries Corporation Ltd. from India has recently signed an agreement of mutual co-operation with One Village One Product Board of the Malawi. Apart from that both the countries have signed a MOU related to co-operation in agriculture and allied sectors. Furthermore, the Ministry of External Affairs, India signed a Protocol for Consultants with the Ministry of Foreign Affairs, Malawi. So let us hope that this mutual co-operation brings good news for both the countries and both are benefited mutually. |
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