Malawi’s Ministry of Transport Calls for Increased Exports Through…

The Malawi Ministry of Transport advocates for increasing export volumes to maximize benefits from the Nacala Corridor. The project’s development aims to reduce transport costs and enhance regional trade among Malawi, Mozambique, and Zambia. With World Bank funding, it is expected to complete by 2027, showcasing significant potential for economic growth and regional integration.

The Malawi Ministry of Transport highlights the necessity of increasing export volumes to gain advantages from the Nacala Corridor’s development. At the 9th Tripartite Meeting of the Nacala Development Corridor Management Committee in Lilongwe, Secretary for Transport David Mzandu acknowledged the importance of this assembly for reviewing ongoing initiatives and collaborating towards shared goals.

Mzandu pointed out that the corridor management is still developing, and significant work remains. He noted that a primary benefit would be reduced cargo landing costs. Currently, much of Malawi’s cargo is transported via road from Beira and Dar es Salaam, but improved access through the Nacala Corridor will greatly decrease these expenses.

The meeting served as a platform for representatives from Malawi, Mozambique, and Zambia to engage in discussions about progress and insights on the corridor’s development. The initiative aims to lower transport costs and promote trade integration among these nations.

Ambrósio Adolfo Sitoe, Mozambique’s Permanent Secretary for Transport and Logistics, stressed that the corridor’s advancement presents a golden opportunity to manage both current and future cargo more effectively, as existing facilities are limited. He emphasized the project’s potential for economic growth and regional collaboration.

Funded by the World Bank through the Southern Africa Trade Connectivity Project (SATCP), the Nacala Corridor project began in 2021 and is anticipated to reach completion in 2027.

The Malawi Ministry of Transport emphasizes the importance of enhancing exports for leveraging the Nacala Corridor. This project not only aims to reduce transport costs but also fosters regional trade among Malawi, Mozambique, and Zambia. By unlocking new economic opportunities, it is set to facilitate deeper regional integration and development, with completion expected by 2027.

Original Source: www.nyasatimes.com