TANZANIA and Russia are contemplating on joint projects in energy, agriculture, infrastructure and tourism.
This transpired during a meeting between Prime Minister Kassim Majaliwa and Russian Economic Development Minister Maxim Reshetnikov, on Monday in Dar es Salaam.
Russian delegation led by Reshetnikov arrived in the country on Monday to take part in the first meeting of the Russian-Tanzanian Intergovernmental Commission on trade and Economic Cooperation, set for today.
Prime Minister Majaliwa said their talks centered on strengthening economic, trade and investment cooperation between the two countries.
During their talks, PM Majaliwa assured Minister Reshetnikov that Tanzania is an ideal place to do business due to its stable environment and strategic location for trade.
"The Tanzanian government under Dr Samia Suluhu Hassan is committed to improving trade relations between Tanzania and friendly nations, including Russia. Through this visit, I am confident you will receive valuable insights to encourage trust in Tanzania as a prime destination for business," he told the visiting Russian minister.
Highlighting Tanzania's opportunities, the Prime Minister noted that the country has a coastline with ports in Dar es Salaam, Mtwara and Tanga, and it borders major lakes like Victoria, Tanganyika and Nyasa, each with several ports.
Lake Victoria has ports in Kagera, Mwanza and Musoma. Lake Tanganyika has ports in Kigoma, Kabwe and Kasanga, while Lake Nyasa has ports in Mbamba Bay, Ndumbi and Kyela.
He explained that these ports are connected by roads, the central railway, TAZARA and the Standard Gauge Railway (SGR), all facilitating efficient transportation of goods both within and beyond Tanzania.
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"We have reliable transport from Dar es Salaam to Kapiri Mposhi in Zambia, enabling goods to reach other countries. When the SGR is completed, it will allow for freight transport to Rwanda, Uganda and DR Congo."
Prime Minister Majaliwa also invited Russian investors to explore opportunities in Tanzania's vast and fertile land suitable for agricultural production.
"Tanzania aims to become a hub for food production in Africa," he said.
PM Majaliwa highlighted the advantages of investing in Tanzania, primarily the assurance of a large customer base, saying with a population of over 61 million, Tanzania provides access to the East African market of over 300 million people and to the SADC region, also with a market of over 300 million.
"Tanzania serves as a gateway to eight neighbouring countries, with two others on the verge of joining. These include Kenya, Uganda, DRC, Rwanda, Burundi, Zambia, Malawi and Mozambique. Comoros and South Sudan have also expressed interest and discussions are ongoing with Somalia," noted Premier Majaliwa.
Earlier, Minister Reshetnikov explained that the two countries have agreed to strengthen economic cooperation, trade and investment.
As part of this, they will hold the first meeting of the Russia-Tanzania Joint Intergovernmental Commission on Trade and Economic Cooperation today to solidify this relationship.
He stated that the meeting results from an agreement signed on December 29, 2022, to enhance economic and trade cooperation.
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"We stand ready to help the Tanzanian economy maintain the high pace that has been achieved in the energy, agriculture, infrastructure development and tourism sectors," Reshetnikov said, adding that around 50 Russian companies are taking part in a Russia-Tanzania business forum these days.
"Mutual political and diplomatic understanding between our countries provides good preconditions for stepping up trade and economic interaction. There is considerable unused potential. According to our estimates, trade between our countries could double," Mr Reshetnikov said.
He mentioned reliable historical relations between the Russian and Tanzanian governments, business communities and individuals.
Tanzanian businesses have displayed a huge interest in Russia and Russian businesses are willing to enter new markets, invest in joint projects and share technology, the Russian Minister said.
