DAR ES SALAAM, Jan 28 (NNN-DAILYNEWS) — SMALL scale business owners in Tanzania and Ghana have expressed readiness to increase engagement in trade and business among themselves to strengthen bilateral relations between the two nations.
This was revealed at the 2024 Market Entry Expedition held in Dar es Salaam which aims to reinforce economic ties between the countries as part of the government’s strategies to boost trade with the rest of Africa.
The Expo is under the African Continental Free Trade Area (ACFTA) which provides a platform for an exposition of goods and services from both countries, economic dialogue, collaboration and the exploration of opportunities for mutual growth and development.
Ghana’s Chief Commercial Officer from the Ministry of Trade and Industry, Kofi Addo said the Expo gives businesses from Ghana a chance to expand into the vast opportunities of the East African market through Tanzania.
He said the event marks a significant moment of collaboration and cultural exchange between the nations, fostering a platform for trade, investment and the celebration of rich cultural diversity.
“We are here not only to showcase the economic potential and vibrant industries and possibilities of Ghana and Tanzania but also to strengthen the bonds of friendship and cooperation between our two nations,” he said.
Addo said the expedition serves as a testament to the enduring spirit of collaboration where ideas, innovations and opportunities can transcend borders and create a foundation for mutual growth.
He noted that through the exhibition, they’re going to be opportunities that will undertake Business to Business (B2B) engagements with Tanzanian counterparts.
“B2B presents a significant opportunity for both countries to strengthen economic ties and explore new business collaborations. B2B aims to showcase the products, services and investment opportunities available in Ghana to Tanzanian businesses and vice-versa, fostering trade and investment between the two nations,” he said.
GIT Private Sector Coordinator and AFCFTA Secretariat, Constance Moser said “the private sector plays a pivotal role in shaping the dynamics of any market entry, and I am thrilled to witness the convergence of industry leaders, innovators and visionaries who are all contributing to the success of this expedition.”
She said the establishment of AfCFTA Trading Companies to serve as intermediaries or trade aggregators to stimulate and facilitate intra-African trade both in volume and diversity of products under the AfCFTA preferences.
Moser added that the establishment of AfCFTA will strengthen collaboration mechanisms and business to business matchmaking for the private sector.
She said the upcoming Biashara Afrika (Business Forum) event scheduled to be held in May this year, will allow further active participation by the private sector, especially the Small and Medium Micro Enterprises (SMMEs).
“As we embark on this expedition, let us recognise that the journey ahead is not just about expanding market presence, it is about building relationships, fostering innovation and contributing to the socio-economic fabric of the African continent,” she noted.
Tanzania Women Chamber of Commerce National Chairperson, Mercy Sila said “everyone has an opportunity to network, exchange insights, and identify areas of collaboration that can propel us forward.
The success of our market entry hinges on our ability to work together, learn from each other, and adapt to the unique dynamics of our target marketindustry.
“Let us approach this expedition with a spirit of openness, innovation, and a shared commitment to excellence. Together, we can navigate challenges, capitalise on opportunities and build a legacy of success in Africa,” Sila said. — NNN-DAILYNEWS
