Extension of textile export deadlines for five months by Southern African Development Community (SADC) has saved textile companies in Malawi from closure.
SADC had given preferential treatment to Malawi along with three other nations known as MMTZ to produce and export textile and clothing with liberty of passing the original policy for five years which was to end in July.
Malawi's contention that its cotton production industry had yet to stand on its own to face Double Stage Transformation (DST) was accepted by the SADC.
Malawi Confederation of Chambers, Commerce and Industry, (MCCCI) Chief Executive Chancellor Kaferapanjira welcome the move saying that it would allow them to export their product to India, China and Pakistan along with productive South African markets.
Six companies, which employ over 5500 people, had been given quotas under the Southern African Customs Union (SACU)/MMTZ agreement to produce cotton, man-made staple fibres, knitted and crocheted fabric, garments and bed linen.
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