Tanzania’s exports to India increase by 70%

Image result for india tanzania tradeTanzania’s exports to India increased by about 70 per cent last year as the two countries amplify efforts to boost their bilateral trade relations, it was revealed yesterday.

Tanzania exported goods worth $1.3 billion (Sh2 trillion) to the world’s tenth-largest economy – by nominal gross domestic product – last year from $752.2 (Sh1.2 trillion) exported the previous year, the Indian High Commissioner said in Dar es Salaam.

“This is the first time that Tanzania’s exports have shown an impressive growth,” Mr Debnath Shaw as he addressed a high level business delegation from Federation of Gujarat Industries, Vodadara and Gurarat.

The growth, according to the Indian diplomat, stems from efforts such as organising seminars, exhibitions and business visits between governments and members of the private sector from the two countries.

The High Commissioner of India to Tanzania, Debnath Shaw described the performance as a huge achievement, given the country has not recorded such export volume to India before.

He said there have been a lot of positive trends in trade ties between the two countries during the past two years of his term as Indian Ambassador to East Africa’s second largest economy.

“When I came, the volume of trade between the two counties was $1.5 billion (Sh2.7 trillion). But, the figure has more than doubled to $4 billion (Sh7.2 trillion),” he said, noting that the data are from Tanzania Revenue Authority (TRA).

Last year, the volume stood at $3.7 billion (Sh6.7 trillion) of which imports were about $2.5 billion.

He was optimistic that in the next two and a half years, trade volume between the two will hit the $5 billion (Sh9 trillion) mark.

The High Commission of India and the Tanzania Chamber of Commerce Industry and Agriculture (TCCIA) hosted the 15 companies from Gujarat, under the event dubbed ‘Seminar-cumB2B meeting’.

TCCIA Dar es Salaam region chairman, Francis Lukwaro said it was the duty of the chamber to connect and give opportunities to its members so they can learn what it takes to do business or get into joint ventures with their Indian counterparts.

“I call upon Tanzanians to make use of this opportunity. The chamber is also ready to connect some delegates to institutions like power utility and road agency,” explained Mr Lukwaro.
Source: The Citizen, reported by Felix Lazaro, from Dar es Salaam, Tanzania
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