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2017 Global Competitiveness Report Brief

theglobalcompetitivenessreport20172018-coverThe Global Competitiveness report released by the World Economic Forum released on 26th September 2017 shows that Malawi ranks 132 out of 137 countries. This means that Malawi is the 6th least competitive country in the world. 

 

The report examines the Global Competitiveness Index (GCI) which measures the competitiveness of all countries in the world in terms of their institutions, policies and other factors which determine the level of productivity of each economy. 137 countries were assessed in 2017.

 

 

The report obtains input from business executives from all over the world through an annual survey, the Executive Opinion Survey, and is produced to provide an overview of the competitive performance of economies in the world. The GCI evaluates 114 indicators grouped into 12 pillars: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication and innovation. Malawi Confederation of Chambers of Commerce and Industries administers this survey in Malawi on behalf of World Economic Forum. 

 

 

According to the report, Malawi performed badly in infrastructure development, macroeconomic environment and basic requirements which ranked 137/137, 136/137 and 134/137, respectively.

 

 

The reports points out corruption, access to finance and tax rates in that order as major obstacles to doing business in Malawi. 

 

CII-EXIM Bank Regional Conclave on India and East Africa

picture cii-exim bank regional conclave on india-east africa-1The Confederation of Indian Industries (CII) has announced that the Regional Conclave on Indian and East Africa will be held from 20-21 November 2017 in Kampala, Uganda. The two day CII-EXIM Bank Regional Conclave will strongly focus on business deliberations, Business to Government (B2G) and Business to Business (B2B) engagements. Malawi is one of the focus countries and therefore an invitation to the Conclave has been extended to Malawi through the Ministry of Industry, Trade and Tourism.

The objectives of the Conclave are as follows:

  1. To strengthen India and East Africa developmental partnership
  2. To show case project exports and highlight successful project implementation by Indian Companies in East Africa
  3. To highlight the benefits of India Credit schemes such as lines of Credit and Buyers Credit schemes
  4. To sensitise important Stakeholders in the region to the strength of India private sector and its triple A technology (Affordable, Adaptable and Appropriate)
  5. To identify projects in East Africa and establish stronger links with the regions business community.

The conclave will provide an opportunity for India and Africa to identify priority areas and key projects for Indian Investment and partnership. The conclave will also serve as a platform for dialogue between Indian and African business leaders as well as between Government of India and African Governments. Download the Conclave Brochure for more information.

Non-Compliance of Methly Bromide Fumigation for Agri-Commodities

IPGIndia Pulses and Grains Association (IPGA) arranged a meeting of Shri. Ashwani Kumar, Joint Secretary – Plant protection with Trade Commissioners, Counsellors and Agriculture Counsellors in New Delhi on January 30th, 2017. The meeting was commissioned in response to the Plant Quarantine (PQ) Department announcement that they will not extend any relaxation to non-compliance of Methyl Bromide (MBR) fumigation for agri-commodities with effect from April 1st, 2017. Meaning to say that any consignment/cargo arriving without MBR fumigation from load port will be rejected by the PQ Department.

The objective of this meeting was to get the PQ Team and all Trade commissioners and Agriculture Counsellors of exporting countries on a single platform and provide them with guidance from the PQ Team on the way forward to ensure that there are no rejections from April 1st. The Meeting however, comprised of the PQ Team and about 6 other PQ Department official and scientific officers. Trade Commissioners, Counsellors and Agriculture Counsellors from 20 countries were also present.

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Modification of GSP Certificate of Origin System

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January 1, 2017 was a date for introducing a new scheme for streamlining exports from developing countries to the European Union (EU) called the Registered Exporters (REX) system. REX is a scheme for certifying rules of origin that the EU has introduced for application to different unilateral, bilateral or multilateral preferential trade arrangements with third world countries. While it was introduced in the context of the reform of the Generalized System of Preferences (GSP) rules of origin in 2010, its implementation was deferred to give enough time for beneficiary countries to prepare their internal systems. The system will progressively and eventually completely replace the current system based on certificates of origin issued by government (or other designated) authorities and on invoice declarations made under certain conditions by economic operators. The new scheme will first be applied for the GSP and will later be used in other trading arrangements such as free trade areas. Read more

Malawi Trade Portal Launched

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Malawi Trade Portal launched at Mount Soche Hotel, Blantyre on Thursday, 14th July 2016

Government of Malawi through Ministry of Industry, Trade and Tourism launched Malawi Trade Portal in Blantyre, a commercial city of Malawi where the majority of businesses operate. The Trade Portal is a one-stop website for trade –related regulatory information on import, export and transit trade. A Large number of businesses came to witness the launch.

The President of Malawi Confederation of Chambers of Commerce and Industry, Mr. Karl Chokotho made a statement on behalf of the private sector applauding Government for living up to the dream of developing the Malawi Trade Portal.  

The President of MCCCI described the trade portal simply as a trade facilitation program and a modern way of doing business. In his statement he said, ‘Information is an economic good because its use or application creates economic value. The knowledge of the policies, regulations and business procedures obtaining in Malawi, for instance, has potential to lead to investment decisions that add value to the Malawi economy. Without easy access to such information, such decisions may not be made. The use of information by businesses for example also creates value, not only for the economy but for businesses themselves.’

The President cited some of the issues which are paramount to the success of the implementation of the portal such as;

  1. the need to ensure that a specific officer or specific officers should be responsible for responding to any queries that may arise and providing any form of assistance that may be needed;
  2. the need for regular and frequent updating of the Trade Portal itself to ensure that the information provide therein remains current; and
  3. that other Government agencies should treat this platform as part of their continuous project, and be available when needed.

Honourable Joseph Mwanamvekha when officially launching the portal commended various Ministries, Departments and Agencies and MCCCI for technically supporting the development of the portal through provision of the necessary information that has gone into the portal. The Minister assured private sector that the portal will be regularly updated and called upon various agencies of Government and private sector to support the portal. He perceived the portal to contribute towards easing the doing business index in Malawi.

The development of the portal was financially supported by World Bank Group.

The portal can be accessed at www.malawitradeportal.gov.mw for more information.