TANZANIA and Japan economic relation is hitting the ground running with the number of Japanese companies taking part in the 38th Dar es Salaam International Trade Fair (DITF) increasing.
In the 37th DITF last year, there were 15 Japanese companies while this year the number has gone up to 20, indicating the pace at which the economic relation is growing between the two countries.
The Japan pavilion which is hosted by Japan External Trade Organisation (JETRO) in collaboration with Japanese Chamber of Commerce and Industry (JCCI) in Tanzania provide an avenue for participants to learn various products' technology.
According to JETRO Deputy Director Overseas Investment Division, Mr Taku Miyazaki, the pavilion provides an avenue for Tanzanian consumers to discover Japanese products and services and also acts as an avenue for Japanese exhibitors to find out more about Tanzanian market.
Last year, 15 Japanese companies exhibited at DITF and received the first place in the best foreign exhibitor awards category. He said that this year, 23 companies are taking part to offer opportunities for every visitor to discover the innovative Japanese products and services.
Some of the Japanese companies which participate in the 38th DITF include City Motors, Japan Power Technology Corp, Samurai Japan Trading Ltd and Worktecht Corporation.
According to JETRO, import from Japan has tripled in the past decade and vehicle importation emerging to be the dominant, marking more than 60 per cent of total value. Export to Japan has also doubled in the past decade whereas ores, slag, coffee, tea and spices dominating, marking more than 80 per cent of total value.
Although the trade volume between Japan and Tanzania showed a gradual decrease from the beginning of 1980s to mid 1990s, trade links between the two countries have once again become increasingly vibrant in recent years.
Import from Japan to Tanzania has grown in 10 years (2001 to 2011), amounting to 22.7 billion yen (approx. 281.4 million USD) in 2011. On the other hand available statistics indicate that export from Tanzania to Japan has achieved notable growth in 10 years, amounting to 20.4 billion yen (approx. 252.1 million USD) in 2011.