LILONGWE, Feb. 17 — Malawi and Tanzania have signed a simplified trade regime (STR) agreement to boost cross-border trade and deepen regional integration between the two countries.
Speaking during the signing ceremony on Monday in Lilongwe, Malawi’s Minister of Industrialization, Business, Trade, and Tourism Simon Itaye described the agreement as a significant milestone in strengthening economic cooperation between the two countries.
The STR is a practical and people-centered initiative designed to enhance bilateral trade while advancing broader regional integration efforts, he said. The agreement is expected to facilitate trade between Malawi and Tanzania by reducing administrative barriers, simplifying customs procedures, making cross-border transactions faster and more affordable, and promoting transparency in the movement of goods between the two neighbors.
It also seeks to enhance coordination among border agencies as the two governments aim to make trade more accessible and efficient, particularly for small and medium-sized enterprises.
According to Itaye, the agreement aligns with Malawi’s national development strategies, regional integration frameworks, and the aspirations of the African Continental Free Trade Area.
He noted that the STR directly addresses long-standing challenges faced by informal traders, including complex procedures, high transaction costs, and uncertainty at border posts.
Also speaking at the ceremony, Tanzanian Minister of Industry and Trade Judith Salvio Kapinga hailed the strong trade ties between Malawi and Tanzania, describing the newly signed STR as a transformational instrument that will encourage traders to shift from informal routes to formal trade channels.
The agreement will also improve safety and dignity for women and youth traders in both countries while strengthening their economic growth and livelihoods, Kapinga said. (Namibia Daily News/Xinhua)
