President Lazarus Chakwera and Rwandan President, Paul Kagame, have agreed to work together towards strengthening trade cooperation between the two countries.
The trade pact was agreed at a bilateral discussion the two leaders held on the sidelines of the World Economic Forum (WEF) in Davos Switzerland.
The two leaders also resolved to work together to ensure that the Joint Permanent Commission of Cooperation between Malawi and Rwanda is finalized.
The Cooperation incorporates memoranda of understanding which will strengthen ties between two countries in areas of Trade, Agriculture, Diplomacy, Security and Development.
“We have resolved to ensure that Joint Permanent Commission of Cooperation between Malawi and Rwanda progresses as intended to finalise various agreements aimed at strengthening ties in areas of Trade, Agriculture, diplomacy, Security and Development,” President Chakwera wrote on his official Facebook page after the meeting.
Earlier in the day the two leaders co-chaired a breakfast session aimed at engaging private sector players from around world on the investment and trade opportunities presented by the African Free Trade Area (AFTA).
The World Economic Forum is crucial at it comes at a time when world leaders are engaging each in trying to bring collective solutions to the prevailing hostile economic problems mainly caused by Covid-19 and the war in Ukraine.