EAST AFRICAN NEWS

The Minister for Trade and Industries, Dr Abdallah Kigoda, told journalists over the weekend during the Tanzania-South Africa Business Forum that it was through strengthening such relationship that both countries would realise their development goals.

“Our business people need to increase their sales to South Africa and minimise the current trade imbalance between the two countries,” he said, noting that the Southern African country export more to Tanzania compared to Tanzania’s exports to the country.

He explained that it was not too late for Tanzania to bridge the trade imbalance between the two countries and that what is needed now is to expand the base for businesses and products value addition through establishing industries. “South Africa has opened up markets for Tanzania’s products,” the Minister said.

He said working with South Africa was beneficial for Tanzania since the country can also learn on how to develop her industrial base and various expertises.

He called upon South African businesses and investors to come to Tanzania and work with the government through the Public Private Partnership (PPP) modal for the benefit of both sides.

The Minister said that up to 80 per cent of Tanzania’s products are exported in raw form and that is the opportunity for processing industries to come and invest in the country.

The South African Deputy Minister for Industries and Trade, Ms Elizabeth Thabethe, said her country was ready to strengthen existing cooperation in areas of business and investment.

“I am happy to learn that there are 120 South African business companies in Tanzania employing more than 2,000 people…this needs to be strengthened,” she said.

She said that a business delegation she led wanted to learn more about Tanzania’s opportunities especially in areas of infrastructure development and energy among others.

The Deputy Minister noted that the East African country has the potential to benefit from energy production projects by using PPP modal.

Explaining further, she said through such projects, the country can produce enough electricity by using her abundant coal deposits and solve energy problems once and for all.

She said Tanzania can benefit from technology and expertise from her country through business cooperation between the two countries. The forum was organised by the Exports Processing Zones Authority (EPZA) and the Ministry of Industry and Trade.