Malawi, China sign trade agreement

Malawi and China have signed a trade agreement that will see goods from the southern African country entering China duty-free.Speaking after signing the pact on Thursday, Malawi’s Industry and Trade Minister Joseph Mwanamvekha said the agreement was a positive step that would expand the southern African country’s export base.

“The agreement will allow us export major cash crops such as tobacco, tea, sugar cane, coffee and legumes on duty free. This is our opportunity to increase our export base,” he said.

He added that the agreement was in line with the country’s vision of evolving from a net importer nation to an exporting one.

Malawi’s trade volume with China hit US$100 million in 2012, a 400-percent jump from 2010.