Africa-Press – Tanzania. THE Tanzanian government and the Republic of Korea have opened a new chapter of economic cooperation through the Tanzania–Korea Business Forum, which brought together government and private-sector stakeholders from both countries to discuss investment and trade opportunities.
Speaking at the opening of the forum, the Minister for Foreign Affairs and East African Cooperation, Mahmoud Thabit Kombo, said Tanzania and Korea are united by a shared vision of prosperity, innovation, and development — principles that form the foundation for strengthening economic ties between the two nations.
Mr Kombo added that although trade between Tanzania and Korea has continued to grow, there remains significant potential to deepen the partnership, particularly in food products, packaging industries, and value-added processing.
For her part, the Ambassador of the Republic of Korea to Tanzania, H.E. Eun Ju Ahn, expressed her delight at seeing Korean companies invest in Africa and pledged close cooperation in sharing essential information that will help enhance the bilateral relationship.
Ambassador Ahn further noted that one of the reasons Tanzania continues to be an attractive investment destination is its large youth population, which guarantees investors a reliable labor force as well as a market for goods and services.
Meanwhile, the Director General of the Tanzania Trade Development Authority (TanTrade), Dr. Latifa Khamis, highlighted an increase in Tanzania’s exports to Korea, rising from 22m US dollars to 28m US dollars in 2024, driven mainly by agricultural and mineral products. Dr. Khamis also invited Korean investors and traders to participate in the Sabasaba Trade Fair in Tanzania.
The forum concluded with the signing of a Memorandum of Understanding (MoU) for Strategic Cooperation between the Tanzania Private Sector Foundation (TPSF) and the Korea Importers Association (KOIMA).
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