Malawi government has disclosed plans to secure a pigeon peas market in India, the latter being the world's biggest buyer of the crop.
Principle Secretary in the Ministry of Industry, Trade and Tourism, Cliff Chiunda brought the development to light in Lilongwe Monday during a media briefing on the forthcoming Malawi-India Business meet on Friday March 17, 2017 at Bingu International Convention Centre (BICC).
"India has the biggest market of pigeon peas in the world and it is the highest buyer and as such we cannot lose the market. During the meeting we will make sure that Memorandum of Understanding (MoU) is signed for us to continue exporting more.
"The current situation is that we import more from India than we export and the trade gap for Malawi-India in 2015 stood at US$110, 202, 000," explained Chiunda.
He added that the meet is an indicative of an empowerment trade with India in favour of Malawi which has the potential to develop even further as a result of strong India investment in Malawi.
Chiunda further said the two countries would work closely together to unlock the bottlenecks that impinge on the investment, growth and expansion of Indian business in Malawi for the sake of the country's prosperity.
He added that the meeting would also endorse India's intentions to develop and empower Malawi through various initiatives, including foreign direct investment from India.
Chiunda also said the meet intends to create awareness of possible transformation of India investment to Malawi, to create awareness of Indian and Malawian-Indian business and investment in Malawi and to launch a business handbook of Indian businesses in Malawi among others.
He said the mini-forum is primarily focusing on the following sectors: Energy, Agriculture (Agro-processing), Irrigation, Health and Manufacturing.
Indian High Commissioner to Malawi, Suresh Kumar Menon said the meeting proposes to bring together at least 200-225 businessmen from Malawi and India.
He said the delegate will share amongst them the capacity of the Indian companies here in Malawi and understand the opportunities that Malawi offers for Indian companies to participate in its growth and development story.
According to Menon the Indian segment will comprise presentation by the Export and Import Bank of India on how Malawian companies can tap the opportunities in Malawi with the help of Indian companies by arranging finance and Ashok Leyland and Eicher who have offices in Malawi.
He added that Indian Hydro Power Company would also make presentation on sustainable Development of Hydro Power by Independence Power Producers and Agriculture by Professor of Agriculture who is involved with promoting Indian agriculture solutions for Malawi at Lilongwe University of Agriculture and Natural Resources (LUANAR).
The Malawi-India Business Meet is an initiative taken by the High Commission of India Malawi to bring on one platform Indian companies in Malawi and Malawian companies in Malawi.