Trade with India to double in next few years

Trade between Tanzania and India could more than double by 2016, according to the Executive Director of the Tanzania Chamber of Commerce Industry and Agriculture (TCCIA), Mr Daniel Mchemba.

He, however, said that it should not be viewed in terms of balance of payment on how trade from Tanzania and Indian would further grow or double.

He was speaking at a gathering between Tanzanian business people and an Indian business delegation currently in the country under the auspices of Confederation of Indian Industry (CII).

He said Tanzania has been India’s trade partner for some time especially in agricultural products that come from ordinary farmers. CII said Indian business people are interested in Africa in general and particularly in countries like Tanzania whose economies are growing fast.

He said India has several years of doing business with African countries including Tanzania hence their visit was aimed at further strengthening bilateral trade ties between the two countries.

Bilateral trade between India and Africa stood at 65 billion US dollars, with Tanzania’s share estimated at 1.4 billion US dollars. Dar es Salaam imports mainly pharmaceutical products, iron, alloy steel, electrical apparatus, motor vehicles, machines and tractors while exports include cashew nuts, sesame, minerals and cotton.

CII - Andhra Pradesh organised the Business Delegation to three African countries - Tanzania, Mozambique and Zambia between 8 - 18 December 2013, with an objective of enhancing business ties between India and Africa.

The main purpose of the Mission is to encourage Indian Exporters to access the African countries and explore the potential investment opportunities and two way trade, especially in the areas of infrastructure, mining, power, agriculture and healthcare.
Source: Daily News, reported by Orton Kiishweko from Dar es Salaam, Tanzania
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