His Excellency, Dr. Lazarus McCarthy Chakwera, President of the Republic of Malawi, is today, May 17, 2023, engaged in two significant endeavors that hold great promise for the trade and export aspirations of Malawian businesses.

The President is jointly presiding over the official opening of the 33rd Malawi International Trade Fair and the inauguration of the state-of-the-art Malawi Bureau of Standards (MBS) office and laboratory complex in the city of Blantyre.

The trade fair serves as a pivotal platform for local businesses to expand their horizons and gain invaluable knowledge as they endeavor to enter foreign markets. This year, the fair adopts the theme 'Rebalancing Malawi's Trade through Industrialization,' underscoring the nation's commitment to advancing its trade dynamics through industrial growth.

Meanwhile, the newly established MBS office and laboratory complex boasts modern facilities that will significantly enhance Malawi's capacity to meet global standards in measurements and tests. This development is poised to facilitate trade between Malawi and other economies by reducing the costs associated with conducting business for local enterprises. Moreover, it will establish common reference points for Malawian products in regional and global markets, eliminating the need for strenuous re-testing, re-inspection, and re-certification procedures when exporting goods.

Notably, the construction of the state-of-the-art MBS facility was made possible through the financial backing of the Government of Malawi, with invaluable support from esteemed partners such as the United Nations Development Programme and the European Union. With a substantial budget of approximately K18.3 billion, this collaborative effort has culminated in a state-of-the-art complex that will play a pivotal role in advancing Malawi's trade agenda.

President Chakwera's involvement in these two significant assignments underscores his administration's unwavering commitment to fostering a conducive environment for trade and export activities in Malawi. By providing local businesses with opportunities for growth and equipping them with the necessary tools to meet international standards, these initiatives hold the potential to propel Malawi's economy to new heights on the global stage.