DAR ES SALAAM, July 3 (NNN-DAILYNEWS) — Tanzania and Mozambique trade volume has dropped sharply from 55.8 million US dollars in 2022 to 20.1 million US dollars in 2023.
The situation has pushed Tanzania and Mozambique heads of state, Samia Suluhu Hassan and Felippe Nyusi, to discuss how to reverse the situation when the duo met at the State House in Dar es Salaam on Tuesday.
“We have agreed to look for what could be the reason, perhaps it is due to security deterioration or business not going through,” President Samia said in a joint press statement.
Elaborating on the investment trends between the two countries, Samia noted that currently there are only two investors from Mozambique, while Tanzania has only six investors in Mozambique.
“This number is very small, we have to work and increase investment among us,’ she noted.
However, she said that the Mozambique investors in Tanzania have provided 650 jobs to Tanzanians, while on the other hand, Tanzania has managed to open 16 companies in Mozambique.
The two heads of state have agreed to boost trade between the two SADC member states as well as agreeing to establish one customs center at Mtambaswala in Tanzania and another in Mozambique to stimulate business. — NNN-DAILYNEWS