By Linda Kwanjana
The Malawi Leader President Dr Lazarus McCarthy Chakwera trip to Saud Arabia is expected to unlock trade with Arab countries especially Saud Arabia which is one of the revered economic giant.
The trip is also destined to strengthen regional integration between people from the two countries. Chakwera left Malawi for Saud Arabia via Kamuzu International Airport (KIA).
$533, Million deals
On Thursday 10 November, Saud Arabia announced plans to sign $533 Million (about K906 billion at current exchange rate) worth of agreements with African countries, including Malawi on the sidelines of the Saudi-Africa Summit.
Saudi Finance Minister Mohammed Al-Jadaan revealed this today when he opened the Saudi-Arab-African Economic
Conference in the kingdom’s capital, Riyadh ahead of the First Saudi-Africa Summit tomorrow.
Malawi and other African countries are set to sign different muti-billion dollar agreements with Saudi Arabia through the Saudi Fund for Development (SFD).
Discussions at the first Saudi-Africa Summit will revolve around supporting joint plans of action, enhancing political coordination, addressing regional security threats, facilitating economic transformation through research and the local development of new energy solutions, all while bolstering cross-sectoral investment.