Dar es Salaam — The bilateral trade volumes between Tanzania and China is now to the tune of Sh9.1 trillion, equivalent to $3.976 billion, the Chinese Ambassador to Tanzania Wang Ke has said.
Speaking on Wednesday, April 17,Ms Wang said China has been Tanzania's largest trade partner for three consecutive years.
Speaking at the Tanzania-China High-Level Investment and Business Environment Dialogue which brought together more than 100 Chinese companies operating in the country and 50 government officials she noted; "This meeting is special for identifying some challenges between the two countries in issues of business environment. There are some challenges facing trade and economic cooperation."
She added that up to now China's total investment in Tanzania has exceeded to $7 billion which makes the Asian economic giant the largest foreign investors in the country.
However, she said it should be noted that there are some challenges facing China-Tanzania trade and economic cooperation.
She said the development strategies of China and Tanzania have not be closely linked, and there are still some mismatches between the expectations from bilateral cooperation.
"We should never kill the goose that lays golden eggs because nobody will win through that action," she insisted
Angellah Kairuki, the minister of state Prime Minister's Office (Investment) said the government has initiated dialogue with Chinese investors to solve some of the arising issues and problems that they face.
She said there are challenges in working permits, opening of businesses just to mention a few which are being worked on.
She invited local and foreign investors to grab the opportunity of manufacturing bags after the government ban on the plastic bags
"There is a huge opportunity in this area. Let investors grab it," she said.