President Lazarus McCarthy Chakwera says there is a need for all the legal instruments to work together in protecting their wealth if the idea of creating wealth for all is to be realized.
President Chakwera said this on Monday at the official opening of the conference for the International Commercial Arbitration Centre.
The Malawi Head of State said the dream of creating wealth for all can only be achieved if all the legal entities come together.
“Just as we are working together to build a new Malawi that is inclusively wealthy as envisioned by Malawi 2063, so we must also work together to put the mechanism in place for our people’s wealth,” said President Chakwera.
The President commended the cordial relationship between government and other legal institutions such as the Malawi Law Society, the Arbitration Foundation of Southern Africa and the SADC Lawyers Association that are working hand in hand to create an institutionalized commercial arbitration seat of international standard in the country.
“And I am pleased that the raw materials for working collaboratively on such mechanisms are already in place, embodied here in the partnership between my administration, the Malawi Law Society, the Arbitration Foundation, and the SADC Lawyers Association to create an institutionalized commercial arbitration seat of international standards in Malawi,” said President Chakwera.
President Chakwera indicated that he will exist the stage a fulfilled man as Chairperson of the Southern African Development Committee having successfully championed the establishment of the arbitration centre which first of its kind in the history of Malawi.
The establishment of this first ever arbitration Centre will save the country costs which were incurred in the past when domestic disputes had to be settled outside the country.