DAR ES SALAAM, Aug 23 (NNN-DAILYNEWS) — TANZANIA has significantly recorded over 11 billion US dollar (about 30tri/-) as Foreign Direct Investments (FDIs) from China in 60 years of bilateral cooperation – echoing a strengthened political and socio-economic collaboration between the two countries.
Speaking during the Forum for Shared Development of China-Tanzania in Dar es Salaam, Minister of State in the President’s Office (Planning and Investment), Professor Kitila Mkumbo attributed the success to the good diplomatic relations between the two countries.
He said the two sides have been working together in various areas including utilising available business opportunities.
He noted that the government-to-government great relation has also resulted into a deepened people to people relation.
As the results China has been emerging as Tanzania’s leading trading partner and source of FDIs. The forum which was co-hosted by the government of Tanzania and the Chinese Embassy in Tanzania intended to highlight practical diplomatic cooperation of the two countries in six decades.
Prof Mkumbo noted that President Samia Suluhu Hassan’s visit to China in 2022 further elevated the diplomatic relations between the two countries as it created visibility to the people of China on suitable areas for investment in Tanzania.
He added that the visit also unlocked market opportunities for Tanzanian goods to China and created good climate for the country to establish investments in China.
“The visit exposed Tanzanians to the 1.4billion people market in China, this is a great opportunity for Tanzanians to do business and utilise the market. We need to attain balance The visit exposed Tanzanians to the 1.4billion people market in China, this is a great opportunity for Tanzanians to do business and utilise the market.
We need to attain balance of trade as currently Chinese imports overweigh our country’s exports.” he said.
Prof Mkumbo mentioned products including tea, cashew and cassava and fish as among the most demanded goods in China calling upon local traders to strengthen value addition.
He lauded investors from China for demonstrating proactive mindset which has been enabling them to invest in manufacturing, infrastructure, real estate and construction, which contribute largely in building up the country’s economy.
The Minister also commended China for its historical roles of improving the country’s infrastructure and building reliable communication network mentioning the 1975 Tanzania-Zambia Railway as a vivid example, which stands as a symbol of friendship between the two nations.
He said other donors and first world countries, which were approached for support regarded the railway line as non-economic viable.
“China has been always there to support Tanzania and other African countries to build their economies, it is a true ally,” he noted.
TAZARA is a binational railway linking the Southern Africa Regional transport network to Eastern Africa’s seaport of Dar es Salaam, offering both freight and passenger transportation services between and within Tanzania and Zambia.
Looking forward, he said as Tanzania prepares the National Development Vision 2050, the government will continue to borrow a leaf from China in order to improve citizens’ livelihoods, especially by improving agriculture and industrial sectors.
He said the forum on shared development between the two countries is in line with the forthcoming China-Africa Summit in September.
He said the Head of State, Dr Samia is expected to participate along with others from 52 countries invited from the continent.
For her part Chinese Ambassador to Tanzania, Ms Chen Mingjian noted that in 2022/2023 Financial Year the trade volume between the two counties reached about 9 billion US dollar (over 24tri/-).
In another development, Ambassador Chen noted that China President Mr Xi Jinping introduced the shared future initiative in 2023 as underlining the importance of building a world of common prosperity and universal inclusivity.
She noted that the Asian country also has adopted the Road and Belt Initiative- global infrastructure development strategy which benefits about 150 developing countries including Tanzania.
Diplomatically, she commended the two countries for continuing to elevate the bilateral relation citing that in 2013 Mr Xi visited Tanzania shortly after assuming his presidency, a move which also has been undertaken by Dr Samia who visited the Asian country in 2022, immediately after taking office. — NNN-DAILYNEWS