Africa-Press – Tanzania. TANZANIA and the United Kingdom (UK) will discuss and approve joint strategies aimed at reducing trade imbalance by further boosting the country’s exports to the UK.
The discussion will take place at the Tanzania-UK Business Forum in Dar es Salaam on Tuesday, where 20 companies from the UK will attend. It will be officiated by Prime Minister Kassim Majaliwa as well as the UK Prime Minister’s Trade Envoy to Tanzania, Lord Walney John Woodcock.
Minister for Industry and Trade, Prof Kitila Mkumbo said during a press conference yesterday that the forum is organised by the ministry in collaboration with the Prime Minister’s Office (Investment), the British High Commission to Tanzania and the Tanzania Private Sector Foundation (TPSF).
Prof Mkumbo said the forum will open more doors for Tanzania to sell its products in the UK.
Prof Mkumbo said in the year 2021, Tanzania has sold goods to the UK worth 90bn/-, while the UK traded to Tanzania goods worth 450bn/-. Through the forum, he said more opportunities will be increased for both countries to conduct trade.
“Among other things, we hope this forum will provide an opportunity for participants to discuss in depth and identify new opportunities for cooperation between the two countries.
“Through these discussions, the two sides will be able to further expand the scope of cooperation in the areas of trade and investment, especially in the energy, mining, infrastructure, agriculture, blue economy and tourism sectors,” said Prof Mkumbo.
He said the forum will also provide an opportunity to discuss and address various policy challenges facing investors from the UK.
However, he said the two countries have long-standing close ties that have been improving day by day, as a result of regular consultations between the two governments.
“According to the Tanzania Investment Centre (TIC), UK is the second largest investor in the country with approximately 945 projects worth 5.42 billion US dollars and provides jobs to 275,384 Tanzanians,” said Prof Mkumbo.
The British High Commissioner to Tanzania, David Concar, said apart from Lord Walney, over 125 business people from UK will participate in person.
Concar believes the talks would strengthen efforts by President Samia Suluhu Hassan and her administration to improve the business environment and enable the growth of a strong private sector to support job creation and economic growth.
“This will be the first time for a visit made by the Trade Envoy to Tanzania since taking up the position in August 2021. He met President Samia in the UK on 31st October,” said Concar.
He said further that the Trade Envoy will also hold high-level meetings with Minister for Foreign Affairs and East African Cooperation, Amb Liberata Mulamula, Minister for Industry and Trade, Prof Mkumbo and Minister for Investment, Geoffrey Mwambe.
Either, he will engage with businesses and investors in Dar es Salaam and Arusha in a range of meetings that show the breadth and depth of the UK’s trade and investment relationship with Tanzania.
According to Concar, before visiting, the Lord Walney said “I am delighted that my first visit to Tanzania will launch the Business Forum and mark the start of a new dialogue that will build even more mutual prosperity for our countries. UK businesses are already a key source of investment in Tanzania, and it is my ambition to see that it grows in the years ahead,” he said.
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