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ZIMBABWE and Malawi will sign a memorandum of understanding on SMEs development next month aimed at enhancing trade relations and boosting the growth of small businesses between the two countries.
In a joint statement following last week’s Zimbabwe-Malawi Joint Trade and Customs Committee (JTCC) meeting, the two countries committed themselves to strengthening trade ties and facilitating growth of businesses.
The committee is mandated by the Zimbabwe-Malawi Bilateral Trade Agreement to oversee implementation of the agreement.
“The JTCC among other issues discussed requirements for granting imports and exports permits in the two countries, sampling and testing requirements by the Malawi Bureau of Standards, cross border trading by small to medium enterprises under the Comesa simplified regime,” reads the statement.
There was also a discussion on the signing of a memorandum of understanding on SMEs in relation to avoidance of double taxation and prevention of fiscal evasion, tariff adjustments as well as outstanding payments by companies in both countries.
“The two parties also agreed to sign the memorandum of understanding on SMEs by end of November 2014. The ministers of finance would meet soon to finalise the agreement on double taxation and prevention of fiscal evasion,” says the statement.
On the issue of outstanding payments the two parties agreed to exchange information through the two ministries of trade and the respective embassies to facilitate resolution of the cases.
Also, the two parties agreed to continuously exchange information on import and export procedures to companies and notify each other in advance whenever there are policy changes that would affect the operations of the bilateral trade agreements.
The committee met in Harare from October 16-17 as part of the annual discussions on issues affecting free flow of trade between the two countries.
The Zimbabwean delegation was led by Beatrice Mutetwa, the director for international trade in the Ministry of Industry and Commerce.
The Malawian delegation was led by Charles Kambauwa, the principal in that country’s Ministry of Industry and Trade.
The next meeting would be held in Malawi in 2015.
derick.khumalo