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Business seminar dedicated to Malawi at BCCI









 
On 24 February 2012 at BCCI a business seminar on theme “Malawi – opportunities for trade, tourism and investment” was held. The event was opened by the President of BCCI Tsvetan Simeonov. Malawi is famous for the production and export of agricultural products, and Bulgaria is experienced in processing such products, Mr. Simeonov noted. According to him the abundant natural resources in Malawi provide a new opportunity for Bulgarian investors. 

The Ambassador of Malawi H.E. Prof. Dr. Isaac C. Lamba presented a reviewed of country’s economy and the tendencies in its development. Among the priorities of the African country’s government is turning Malawi, which at present mainly imports ready foreign products, into a country which manufactures and exports goods for foreign markets. The export of Malawi consists mainly of tobacco, tea, sugar, coffee, rice, textile and textile products, precious stones and jewelry, chemicals and leather articles. Malawi is the world’s largest producer of Burley tobacco. 

Malawi imports mainly construction materials, electronics, industrial machinery and equipment, medicines, agricultural equipment, etc. The European Union is one of the country’s main trade partners – 40% of the country’s export is intended for the EU. 


According to the government of Malawi, in the last 10 years a progress has been achieved in reducing poverty due to the achievements of healthcare, mining, education and transport. Safety and peace in the country contribute to the economic stability. The country’s speedy economic development makes it a suitable business destination. Malawi is a member of the World Trade Organization, the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA). 


Ms. Faith Kazember, Counsellor at the Embassy of the Republic of Malawi introduced the guests to investment incentives in Malawi and the requirements for registration of companies. Mr. Herbert Chihana, First Secretary at the Embassy of the Republic of Malawi in Berlin presented one of the most important sectors in Malawi – tourism. 

Mr. Zvezdalin Lalov, Head of Department “Africa” at the Ministry of Foreign Affairs, reviewed the political relations between the Republic of Bulgaria and the Republic of Malawi. Diplomatic relations between the two countries date back to 1994. Since 2000, Africa has been considered the fastest developing continent; its middle class is expected to reach 150 million people in 2020. In its development rate Malawi remains close to the general tendencies on the continent. The small South African country outstrips Bulgaria almost two times in growth, Mr. Lalov concluded.  

24.02.2012

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