Malawi President Dr. Lazarus Chakwera says the 2nd US-Africa Leaders’ Summit in Washington DC has accorded Malawi an opportunity to break the trade and investment barriers and fully participate in Africa’s cooperation with the world’s largest economy.
Chakwera says in the various deliberations he has had with delegates to the summit including US President Joe Biden, it is becoming clear that Africa is now permanently positioned as a key investment destination.
“In the short term, Malawi is poised to benefit from a three-year US$55 billion package committed by the US towards development projects and programs on the African continent,” he says.
Malawi leader adds,” We will also remain abreast in exploring opportunities that arrive with the newly-signed memorandum of understanding between Washington and the Africa Continental Free Trade Area (AfCTA) and Africa’s prospects of permanent membership in the Group of 20 economies (G20).”
Chakwera says the summit will help Malawi boom its economy.
“Malawi joined Africa in Washington DC to seek consensus on equitable development and mutual success with the US. I am glad we have established a refreshed stable foundation to unlock trade and investment opportunities for our economy,”he says.
The US- Africa summit was hosted by US President Joe Biden Jr. Other African leaders who attended the summit include President Yoweri Museveni of Uganda, President William Ruto of Kenya, President Muhammad Buhari of Nigeria and President Samia Suluhu Hassan of Tanzania.
The U.S-Africa Leaders Summit, from December 13-15, 2022 in Washington DC, highlighted the U.S. commitment to expanding and deepening our partnership with African countries, institutions, and people.