Equatorial Guinea, Malawi To Strengthen Cooperation

Sep 27, 2013, 12:19 ET from Republic of Equatorial Guinea

Equatorial Guinea has experience to offer in development, says Joyce Banda

NEW YORK, Sept. 27, 2013 /PRNewswire-USNewswire/ -- The presidents of Equatorial Guinea and Malawi took steps to increase cooperation during a meeting yesterday between Equatorial Guinea's President, Obiang Nguema Mbasogo, and Malawi's President, Joyce Hilda Banda.

The two presidents met at the margins of the United Nations General Assembly to discuss increasing cooperation in trade and development.

Following the meeting, Mrs. Banda said that other African nations can learn much from successful development efforts in Equatorial Guinea.

"President Obiang is committed to changing the lives of ordinary people," she said. "You go to Equatorial Guinea and see this--see buildings going up, new projects, development everywhere."

Mrs. Banda said that Equatorial Guinea "is a country that has done well economically." She said she believes Malawi can benefit from increased trade and stronger relations with Equatorial Guinea.

Mrs. Banda was elected to office in the midst of a severe economic crisis in Malawi and immediately took steps to devalue the kwacha, Malawi's currency, and reign in government spending. She has made transparency in government and economic restructuring her top priorities.

About Equatorial Guinea

The Republic of Equatorial Guinea (República de Guinea Ecuatorial) is the only Spanish-speaking country in Africa, and one of the smallest nations on the continent. In the late-1990s, American companies helped discover the country's oil and natural gas resources, which only within the last five years began contributing to the global energy supply. Equatorial Guinea is now working to serve as a pillar of stability and security in its region of West Central Africa. The country hosted the 2011 Summit of the African Union. For more information, visit http://www.guineaecuatorialpress.com.

SOURCE Republic of Equatorial Guinea