Africa-Press – Tanzania. THE private sector in Tanzania has been encouraged to explore trade and investment opportunities in the neighbouring Democratic Republic of Congo (DRC), which will be admitted in the East African Community (EAC) regional bloc in the near future.
The call was made in Dar es Salaam on Thursday by the Ministry of Foreign Affairs and East African Co-operation’s Director of Regional Cooperation Department, Ambassador Agnes Kayola, during a consultative meeting attended by representatives from public and private sectors.
The consultative meeting was aimed at identifying trade and investment opportunities and suggesting solutions for hurdles hampering Tanzania’s private sector in DRC.
Early this week, EAC Secretary General Peter Mathuki (pictured) said in Nairobi, Kenya that DRC will on March 29th this year be officially admitted into the regional bloc.
The admission of DRC in the EAC will make it the second country after Tanzania with double membership in regional groupings in the region namely EAC and that of the Southern African Development Community (SADC), with the latter having a combined market of about 350 million people.
Participants at the meeting identified several areas where the local private sector could tap on including textile products,shoes, land and air transport in addition to increased linkages on the use of Dar es Salaam port for exports and imports of cargo from the mineral-rich neighbouring country.
Amb Kayola mentioned other areas where Tanzanians could explore in DRC as market for locally produced commodities, tourism sector, teaching of Kiswahili language, provision of financial and data services in addition to provision of freight and forwarding services at the Dar es Salaam port.
The Director expressed concerns that despite enjoying a geographical advantage of having an extended boarder with DRC; Tanzania is not among largest exporters of products to that neighbouring country.
“More than 80 per cent of the needs of DRC are imported. Tanzania, however, which shares a physical border with it is not among major exporters to the DRC,” she decried.
Amb Kayola was however optimistic that the ongoing construction and improvement of infrastructure in Tanzania will facilitate smooth transportation of food stuffs and industrial products to the DRC market.
She detailed further that the consultative meeting aimed at providing solutions and propose specific strategies to ensure that Tanzanian traders and investors benefit from the DRC market by investing in various sectors of the envisaged new member of the EAC.
The director was equally upbeat that construction of the Standard Gauge Railway (SGR) stretching from Dar es Salaam- Kigoma and further to Burundi and DRC will facilitate transportation of exports such as forest products and minerals and imported goods through the port of Dar es Salaam.
Participating in the meeting virtually, Tanzanian envoy to DRC, Ambassador Said Mshana, assured local traders and investors that the embassy will provide them with needed support.
“The embassy is there to offer all needed support including consular services and information on trade,” he pledged before the local private sector.
The DRC is rich in various minerals including copper, cobalt, zinc, lithium, diamond and gold, among other precious metals and gemstones. It has an area of 2.345 million square kilometres with a population of 95 million people.
The consultative meeting which was organised by the Ministry of Foreign Affairs and East African Co-operation was attended by officials from various government ministries as well as representatives from the private sector.
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