Malawi, Equatorial Guinea in veggies export deal

Malawi will soon start exporting fresh and dry vegetables to Equatorial Guinea as one way of boosting its foreign exchange earning through trade, President Joyce Banda has said.

Banda, speaking on her return from Equatorial Guinea where she attended the third Africa-South America Summit, said a delegation from Equatorial Guinea will come to Malawi to explore possibility of importing food and other agricultural commodities.

According to a communiqué read before the president addressed the press, Banda told member states at the summit that they should not only depend on foreign aid which she said has now “stagnated” but rather utilise their potentials.

“President Joyce Banda called on member states to em¬brace the spirit of South-South Cooperation, especially now in the aftermath of the global financial crisis where aid and investment flows from the west have stagnated.

“She emphasised that developing countries can attain the growth potential in their countries by not just depending on foreign aid but also through increased trade and investment as well as knowledge sharing with fellow developing countries,” reads part of the communique.

The communique further says the president met leaders such as Brazil President Dilma Russeauf, Bolivia President Eva Morales, Sychelles Vice President, Angola Foreign Affairs Minister and Director of Food and Agricultural Organisation.

The summit was held under the theme “Strategies and mechanisms to strengthen South-South Cooperation”.

Its main objective was to assess the progress made on the agreements made in the previous summits and share experiences of how to develop own economies through trade and cooperation.