Lilongwe — Southern Africa Development Community (SADC) needs to find innovative ways of subduing the adverse effects on its economies due to the slump in the global economy.
Minister of Foreign Affairs and International Cooperation, Ephraim Chiume made the call in Lilongwe when he was officially opening the 2014 Council of Ministers meeting on Monday.
The meeting is expected to discuss key issues concerning SADC regional integration agenda as well as international matters.
"Our meeting comes at a time when the world economy is showing signs of slowing down, coupled with major political developments in Europe, in particular that will likely exacerbate the struggling global economy.
"This may have the domino effect on the economies of SADC and African countries and that calls on us to find innovative ways of subduing these effects," said Chiume.
Chiume who is the current chairperson of the SADC council of ministers said it is very significant for SADC to look deeply into the matter because Malawi and SADC are all part of the global village.
"Whatever happens anywhere else in the world, has got a bearing on our economies, so we cannot be insulated completely if the global economy as it will have a negative impact on our economy as Malawi and SADC as a region," said he while addressing journalists.
During the meeting, Chiume also urged for the 2014/2015 SADC budget which is expected to be adopted by the council of ministers to take into account these global events.
Chiume, commented on the ongoing mid-term review of the SADC Regional Indicative Development Strategic Plan (RISDP) saying the process will lead the community into remodelling and redirecting the new modus operandi of SADC for the period 2014-2018.
"I would therefore like to urge the RISDP task force, the cluster ministers, in conjunction with the SADC secretariat to expedite action, to ensure timely finalisation of the revised RISDP (2014-2018) in accordance with the revised roadmap," said Chiume.