Sign In or Register | Monday, May 20, 2024
AfricaTeam,   1/14/2024 10:47:42 PM Add AfricaTeam as a Friend | Send Message
Africa See Profile
Malawi Joins the Central Corridor, Boosting Regional Trade and Connectivity

 Malawi joins the Central Corridor, boosting regional trade and connectivity

Dar es Salaam, Tanzania, December 1, 2023 – The Republic of Malawi officially joined the Central Corridor Transport Facilitation Agency (CCTTFA) agreement , marking a significant step towards strengthening regional trade and connectivity.
 
The ceremony, held during CCTTFA Extraordinary Inter-state Council of Ministers meeting in Dar es Salaam, Tanzania, the Malawian delegation led by the Minister of Transport and Public Works, Honorable Jacob Hara, sign the agreement, officially making Malawi the sixth member state of the Central Corridor.
The Central Corridor, a multimodal transport network connecting landlocked countries in the region to the Indian Ocean port of Dar es Salaam, is crucial for facilitating trade and development in Africa. With Malawi’s inclusion, the corridor now spans six countries: Tanzania, Burundi, Rwanda, Uganda, the Democratic Republic of Congo, and now Malawi.
 
Speaking at the ceremony, CCTTFA Executive Secretary Adv. Okandju Okonge Flory welcomed Malawi’s accession, highlighting its positive impact on the region’s economy. “The inclusion of Malawi is a major milestone for the Central Corridor,” he said. “It will expand our reach, enabling us to better serve the needs of our member states and facilitate trade flows across the region. We are confident that Malawi’s participation will contribute further to the development of the Central Corridor and the economic integration of Africa.”
 
Honorable Hara, representing the Malawian government, expressed his country’s commitment to collaborating with other member states to improve the efficiency and effectiveness of the Central Corridor. “Joining the Central Corridor is a strategic decision for Malawi,” he stated. “We believe that this partnership will significantly enhance our access to the sea and regional markets, promoting trade and economic growth in our country.”
Malawi’s accession to the CCTTFA is expected to yield several benefits, including:
Reduced trade costs: By harmonizing transit procedures and simplifying customs regulations, the Central Corridor can help lower trade costs for businesses in Malawi and other member states.
Improved infrastructure: The CCTTFA facilitates joint investments in infrastructure projects along the corridor, leading to better roads, railways, and ports, which will benefit all member states.
Enhanced trade competitiveness: The Central Corridor provides Malawi with a more efficient route to international markets, making its exports more competitive.
Increased regional integration: Malawi’s participation in the CCTTFA strengthens regional cooperation and collaboration, contributing to the overall development and integration of Africa.
Tags:Malawi Joins the Central Corridor, Boosting Regional Trade and Connectivity
Bookmark and Share Email Email to Friends Print Print
0
Comments(0)
Please Sign In  or Register  to post a comment.
UserName:
Password:

 
Facebook Twitter YouTube Instagram Linkedin African Music
Push
Post a New Story from your Account, then Vote for it Here by clicking Push



Most Popular
Latest Forums
Latest Polls
Links
Tags
    Nigeria    Kenya    
South Africa    Ghana    
Africa's Top 10 National Parks    The Cost of an African Safari Adventure: From Budget to Luxury    Egypt    Ethiopia    Zimbabwe    
Uganda    African Development Bank    Africa    Tanzania    Central Bank of Nigeria (CBN) Has Issued a Directive to All Nigerian Banks    Test    Kenya a Hot bed of Investments    Mosi-oa-Tunya Falls "The Smoke That Thunders"    Pope Francis On Safari In Kenya    The Greatest Footballer Ever    
Media Kit | Site Map | Help | Send Feedback | Contact us | User Agreement | Privacy | About us
Copyright © 2022-2024 "Africa Updates" All rights reserved