Bilateral trade volume between Tanzania and Türkiye has increased fivefold in the past decade, indicating a positive diplomatic and economic relationship between the two countries.
Türkiye's Ambassador to Tanzania, Dr Mehment Gulluoglu said in Dar es Salaam yesterday that the trade volume increased from 60 million US dollars in the 2011/2012 fiscal year (156.6bn/-) to 300 million US dollars (783bn/-) in the 2022/2023 fiscal year.
He attributed the significant rise to an increase in Türkiye exports to Tanzania.
"Until last year, more than 900 Türkiye companies exported their products to Tanzania," said Dr Gulluoglu during the Türkiye-Tanzania trade delegation and Business2Business (B2B) meeting.
He acknowledged the trade imbalance between the two countries, noting that it currently favors Türkiye but expressed optimism that the current diplomatic and economic ties would help address the imbalance.
Speaking on behalf of the Tanzania Chamber of Commerce, Industry, and Agriculture (TCCIA) president, Vice President Abdul Mwilima reiterated the significant increase in trade volume while also acknowledging the existing trade imbalance.
"I am pleased to note that this figure (export volume) has grown to USD 300 million in the 2022/2023 fiscal year. While this growth is commendable, it is important to acknowledge that the trade balance has consistently favored Türkiye," Mwilima said.
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Despite the trade gap, Mwilima highlighted the benefits Tanzania derives from its business relationship with Türkiye and urged the business community to work towards leveling the trade imbalance.
"This trade imbalance presents both a challenge and an opportunity for us to work together to create a more balanced and mutually beneficial trade environment," he insisted.
Commenting on types of products exchanged between the two countries, Mwilima explained that Türkiye exports iron and steel, chemical products, machinery, electrical, and electronic equipment to Tanzania, which are vital for the development of the country's infrastructure and industry.
On the other hand, Tanzania exports agricultural products such as coffee, tea, spices, plastic scraps, edible fruits, gold, tobacco, oil seeds, sesame, cashew nuts, and groundnuts to Türkiye.
Mwilima described the exported products as "the pride of the nation," reflecting Tanzania's rich agricultural and mineral resources.
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He also emphasized that the bilateral relationship between Tanzania and Türkiye extends beyond trade.
"Our relationship with Türkiye is not confined to trade alone, it is deeply rooted in a partnership that extends to various aspects of our development," he stated.
Mwilima highlighted President Samia Suluhu's state visit to Türkiye in April as a significant step in strengthening bilateral ties.
"Her visit further cemented the ties between our two nations and opened new avenues for collaboration in trade, investment, and beyond," he emphasized.
The B2B meeting attracted 29 companies from Türkiye, showcasing products from various sectors including furniture, lighting, ship and yacht spare parts, agricultural and animal products, iron and metal products, chemical products, water tanks, steam boilers and generators, automotive spare parts, construction, hardware, and furniture.
A project manager for a construction company known as Heven Vision Tz Ltd, Betinus Ishengoma, praised the platform for fostering relationships and networks with like-minded businesspeople.
"I have gained new experience in importing and exporting. Through this experience, I have learned that I can venture into home furniture and home decoration, which is related to my construction business," explained Ishengoma.
Another participant, Irina Msigwa Zurich Limited Manager, noted that the meeting helped her discover new products and suppliers, potentially shifting her imports from Dubai to Türkiye due to the affordability and quality of Turkish products.
