President Joyce Banda is this morning expected to depart for Equatorial Guinea where she is expected to attend Africa- South America (Ascof) Summit.

A statement released by the State House on Wednesday indicated that the trip has been funded by the host.

"This is an important cooperation because most countries in South America face similar challenges as Malawi and other African countries. But South America has overcome these challenges and so Africa can learn from South American countries' experience," the statement, signed by Presidential Press Secretary Steve Nhlane, stated.

The statement says the summit will discuss cooperation between African and South American countries in the fields of infrastructure, energy, agriculture and sustainable development.

It stated that the summit would also take stock of the progress made in the agreed areas of cooperation and agree on how to move forward.

Commenting on the summit, Principal Secretary for Foreign Affairs and International Cooperation Patrick Kabambe said: "Malawi stands to benefit through cooperation with countries that have faced similar challenges as ours, overcome them and become prosperous.

"Malawi can take advantage of this cooperation to initiate programmes that are linked to its Economic Recovery Plan."

Banda will leave through Chileka Airport in Blantyre and the summit will take place from tomorrow up to Friday.

The president will also hold bilateral meetings with her Guinean and South American leaders that will be attending the summit.

According to Malawi News Agency reporter Muyanga Ziba who is already in Malabo, Equatorial Guinea, Malawi , as an agricultural country is expected to clinch deals to export much of its agricultural produce to South America and other countries in Africa.

The export deals are expected to encourage more farmers to grow crops for export in line with the economic recovery programme the Government has put in place .

The Ascof summit specially invited Banda to attend together with over 30 heads of state from Africa and South America, the summit is coming at a time when most countries are exporting less and importing more, according to summit officials.

It is expected that trade imbalance among the countries will be reduced and will see more countries buying produce from fellow members , a development that will improve economic development of the countries in the forum.

The summit, will among others, discuss projects in the areas of energy, transportation, science, tourism,  infrastructures, technology, commerce, mining, investment and security.

Among the countries attending include Benin, Bolivia, Brazil, Burundi, Congo, Cape Verde, Ethiopia, Gabon, Ivory Coast, Malawi, Nigeria, Sao Tome and Principe, Senegal, Somalia, Swaziland, South Africa, Sudan, and Suriname.

The Malabo summit has had precedents from two summits that took place in Abuja in Nigeria in 2006, and Margarita Island (Venezuela) in 2009. Additional reporting by Muyanga Ziba, Mana