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P&O; Nedlloyd optimistic about industry’s growth
By
Ayam Maeresa - 05-08-2002 |
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P&O; Nedlloyd managing director for Southern Af-rica Barry New said on Thursday night the shipping line was optimistic of the industry’s growth given Malawi’s designate as a beneficiary of the US’ Africa Growth and Opportunity Act (Agoa).
New, speaking at the official launch of the company’s local branch in Blantyre, said initiatives that will see the private sector taking full advantages of the export opportunities under Agoa are likely to see growth not only in the textiles and garment sector but in the agricultural sector as well.
He said this will increase demand for global container and logistics services as most importers and exporters will need direct and efficient access to various markets in the Far East, West Africa, Europe and the Indian subcontinent.
An estimated 85 percent of all exported products are agricultural products—mainly tobacco, tea and sugar—that are among some of the products that now have access to the US market.
“There has to be growing optimism for the future, including inward investment that would follow,” said New.
Manica Limited represented the company’s interests in the country prior to the opening of the office.
Operating a fleet of 148 owned and chartered vessels, P&O; Nedlloyd has a global network of over 70 trade lines that connects about 250 main ports worldwide.
New said while the world economic downturn had negative effects, emerging economies managed to withstand the recession.
“Growth in many parts of Africa has been largely sustained despite the ongoing uncertainties in the global economic environment, P&O; Nedlloyd are positioning themselves to be involved in these developments,” he said.
deputy transport minister Jan Sonke said government was looking forward to an improved transport system to cut down on high transport costs that constrain growth in the private sector at the moment.
He said as a landlocked nation relying on her neighbours for access to the sea, the country was disadvantaged with exports and imports movement.
“I would like to emphasise that for our international trade and our productive sector to be competitive, we need efficient, least cost transport routes,” said Sonke.
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