By Dean Chisambo
The Government of Malawi, in collaboration with the Government of Tanzania, has signed a Simplified Trade Regime (STR) agreement in Lilongwe.
Minister of Industrialization, Business, Trade and Tourism Simeon Itaye says the agreement reflects strengthening economic status and improving livelihoods of the people between Malawi and Tanzania.
The agreement is expected to reduce transportation barriers and promote transparency on the movement of goods, Itaye adds.
Itaye emphasises that the STR will promote trade and advance value chain between the two countries, leading to job creation and poverty alleviation among the people of Malawi and Tanzania.
Tanzanian Minister of Industry and Trade Judith Kapinga says her government is looking forward to the implementation of the STR agreement, which will benefit Small and Medium Enterprises (SMEs) and border traders between the two countries.
Kapinga describes the STR deal as a game-changer that will unlock trade barriers among border traders and facilitate legitimate trade.
The Tanzanian Trade minister highlights that many women and youth are involved in border trade, but face challenges in transporting their goods, leading them to use shortcuts.
She adds that the agreement will enhance food security, as more agricultural commodities will be easily exported and imported between the two countries.
According to officials from both countries, many women and youth are engaged in cross-border trade between Malawi and Tanzania, and the STR agreement is expected to boost their economic activities.
