DAR ES SALAAM, Aug 16 (NNN-DAILYNEWS) — TANZANIA and Pakistan are targeting a significant increase in their bilateral trade volume, with projections aimed to surpass 400 million US dollars (about 1tri/-) in the near future, driven by a strong and growing business partnership between the two nations.
The trade volume between Tanzania and Pakistan reached 300 million US dollars (about 813bn/-) in the 2022/2023 period, up from 224 million US dollars (about 607bn/-) in the previous year.
This increase reflects the strengthening of economic ties between the two countries.
Pakistan’s High Commissioner to Tanzania, Siraj Ahmad Khan, made this announcement during the celebrations of Pakistan’s 78th Independence Anniversary in Dar es Salaam.
“Since my arrival here in Tanzania, I have focused on key areas such as trade and investment.
Last year, our trade volume exceeded 300 million US dollars, up from 224 million US dollars and I am optimistic that it will surpass 400 million US dollars in the coming years,” the High Commissioner stated.
He added, “When I first arrived, the trade volume stood at 224 million US dollars. I set a goal to double it within two to three years and we are on track to achieve that.”
In addition to trade and investment, the High Commissioner highlighted other areas of cooperation between the two countries, including agriculture, textiles, agricultural equipment and machinery.
He also noted potential for collaboration in new sectors such as ICT, telecommunications, banking, tourism and medical tourism. “The opportunities for cooperation are immense,” he said.
“We are not only working to increase trade but also to attract Pakistani investment into Tanzania. We have been exchanging delegations and focusing on these objectives.”
The High Commissioner emphasised that Tanzania and Pakistan have enjoyed strong and friendly relations since establishing diplomatic ties.
The countries collaborate in various fields, including trade, investment, defense, education and capacity building.
General Secretary of the Pakistan Business Council, Engineer Rizwan Qadri stated that the council acts as a bridge between business communities in both countries, facilitating trade and investment activities.
“We support Pakistani businesses investing in Tanzania’s industrial sector and encourage Tanzanians to explore opportunities in Pakistan, particularly in agriculture,” he said. — NNN-DAILYNEWS
