Blantyre — President Prof Peter Mutharika says his Government is committed to transforming Malawi from an importing and consuming country into a producing and exporting nation through embracing various new technologies.
Mutharika observed that the country is endowed with vast resources which if fully utilized with new innovative could maximize production thereby enhancing export base.
President Mutharika was speaking on Friday during the official opening of the 26th Malawi International Trade Fair in Blantyre.
Mutharika said: "Trade Fair aims at promoting economic and marketing objectives and this is an opportune time of creating more business opportunities, showcasing merchandise activities and services and also learning about the latest development on the market.
"In this regard, my Government is determined to pursue a collective vision to transform our country from predominantly being importing and consuming country to an exporting one in order to enhance international markets."
The Malawi leader said the rule of the game is to empower the private sector that would create more sustainable jobs in addition to instilling hardworking spirit among Malawians that would help to supply quality goods and services for both domestic and export markets.
"We have news that our friends are exporting quality goods at competitive prices so it is high time that Malawi has to move with speed in developing and enhancing our production capacity for export markets," he said adding that for the move to materialize, Malawi has to embrace new technology that include employing value addition process to raw materials match international markets.
On his part, President of the Malawi Confederation of Chambers of Commerce and Industry Newton Kambala concurred with Mutharika that Malawi continues to face trade imbalances as value of export is reduced due to lack of value added export products.
He said it was high time that Government had to intervene in government-privatized companies for them to produce high quality export products.
This year's exhibition which has attracted at least 200 local companies and four international exhibitors is held under the theme' 'productivity; a key to exploiting export opportunities' and it will run till 29th June.