PUBLISHED ON March 18th, 2015

Tanzania: Sino-Tanzania trade boosts investment flow

INCREASED trade between Tanzania and China has resulted into signing of an agreement for promotion of commercial and investment opportunities in the country.

Speaking in Dar es Salaam, Head of government communication unit in the Ministry of Industry and Trade, Mr Athuman Nkungu, said the agreement has made it possible for China to increase items under preferential trade.

“The country signed an agreement last year where China increased the number of items for importation from Tanzania under duty and quota free arrangement from 95 to 97 per cent,” he said.

Adding that “the increased trade transactions is what is now being experiencing where many Tanzanians go to China and vice versa under the bilateral relationship.”

He said the government was working at its best to ensure that all conflicting laws that dog trade performance were eliminated.

Business Administration Officer in the ministry, Ms Prisca Mbaga said they were now educating the local business operators to tap the opportunities available in East Africa and Southern African countries.

“There are a lot of opportunities which we encourage Tanzanians to utilise to improve their welfare and the national economy as wel,” she said.

Source: All Africa

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