President Lazarus Chakwera on Monday returned from Washington DC, United States of America (USA) where he attended a United States (US)-Africa Leaders’ Summit stating that Malawi has fostered new trade and investment bonds.

Posting on his social media platforms, the President, who landed through Kamuzu International Airport in Lilongwe in the afternoon, indicated that it was a successful trip.

Vice-President Saulos Chilima welcomes the President

“Through the summit, the Malawi delegation has fostered new trade and investment bonds with the US, fellow African economies, global and regional development institutions,” he said.

Chakwera could not give more details on the key outcomes of the summit, saying he “will inform the nation in due course”.

In his earlier post on the trip, the President indicated that in various deliberations he had with delegates to the summit, including the host US President Joe Biden, it was clear that Africa is now positioned as a key investment destination.

He said: “In the short-term, Malawi is poised to benefit from a three-year $55 billion [about K55 trillion] package committed by the US towards development projects and programmes on the African continent.

“We will also remain abreast in exploring oppor tun i t i e s tha t arrive with the newly-signed memorandum of understanding between Washington and the Africa Continental Free Trade Area and Africa’s prospects of permanent membership in the Group of 20 economies.”

The President made the trip amid austerity measures his administration instituted in June. The measures included restricting foreign trips to three. However, he has exceeded his own limit.

But US Ambassador David Young supported Chakwera’s decision to accept Biden’s invitation, saying Malawians should understand that the President ought to attend these meetings for the benefit of the country.

He said: “These kind of visits are very important for Malawi’s interest. I think some people may not appreciate that because the last trip Chakwera made to Washington DC was extremely impactful.”

In a statement posted on US Department of State website, Biden indicated the summit would demonstrates “the United States’ enduring commitment to Africa, and would underscore the importance of US-Africa relations and increased cooperation”.

About 50 African leaders were expected to attend the summit.

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