BLANTYRE (Malawi News Agency) – Ministry of Trade has urged people to consume and use locally made products, saying this is the only way to create decent and sufficient rural and urban jobs to boost the economy.
Buy Malawi Strategy desk officer Mr Ezron Chirambo said this on Friday in Blantyre when the Ministry organized a mini-fair at Chichiri Shopping Centre in Blantyre where 20 local companies participated.
Chirambosaid the fair was aimed at celebrating locally produced goods and services.
He said the fair was aimed at celebrating locally produced goods and services.
But in his response Chirambo said government is willing to change policies that are retrogressive to the Buy Malawi Strategy drive.
“Companies are welcome to discuss their challenges with government. The perfect operating environment for all companies sometimes cannot be there, but as government ventures into another fiscal year, companies are advised to voice out their inputs on what should be done,” he said.
Troubled by the rising trade deficit, the Malawi Government launched the Buy Malawi Strategy in 2016 to reduce imports and narrow the country’s trade deficit by promoting local production and industrialisation.
For instance, the country’s trade deficit peaked at $629.6 million (K497 billion) during the fourth quarter of 2020, following another deficit of $620.1 million (K489 billion) recorded in the previous quarter.