The government has entered into an agreement with Dubai external trade agency that seeks to improve business and trade relations between the two countries.
The pact was reached at the weekend in Dar es Salaam with the signing of a Memorandum of Understanding (MoU) by Tanzania Investment Centre (TIC) on behalf of the government and Dubai Consultancy ob behalf of the Ministry of Industry and Trade of Dubai.
Dubai Consultancy was represented by its Chief Executive Officer, Walid Hareb Al Falahy.
The MoU was signed during a trade mission to Tanzania by over 50 companies from Dubai which are seeking to invest in the Tanzania.
“We are thrilled by today’s development,” said the TIC Acting Executive Director, Raymond Mbilinyi after the pact signing.
Meanwhile, Tanzania Trade Development Authority (Tantrade) has signed an agreement with Dubai Exports, the export promotion agency of the Department of Economic Development in Dubai to strengthen business relations between the two countries.
Mbilinyi said the agreement is part of efforts to see Tanzanian businessmen develop their capacity to export more to Dubai. Currently, Tanzania imports more than it exports to the Emirate.
“This will help improve investments and business relations between Tanzania and Dubai in a win-win situation,” Mbilinyi observed.
The meeting enabled personnel from over 20 companies from Dubai to exchange ideas and establish networks with over 180 Tanzanian counterparts.
Apart from the meeting, earlier the trade mission visited TIC offices, Tanzania Chamber of Commerce, Industry & Agriculture (TCCIA) and the Export Processing Zone Authority (EPZA).
Dubai Exports chief executive officer Saed Al Awadi said Tanzania has considerably a potential market for Dubai products and the long and historic relations between the two partners give Dubai exporters a competitive edge.
“The success of Dubai based companies in Africa is really to do with bringing together buyers and sellers from a number of targeted sectors which is what we have managed to accomplish in this trade mission,” he said.
As part of the trade mission, Dubai Exports organised tailor-made meetings for each of the participating firms with potential customers, agents, distributors as well as partners.
For her part, Minister at the Vice President’s Office responsible for Environment, Dr Theresia Huvisa, who attended the meeting, said her office will accord the necessary help to prospective Dubai companies which will show interest in investing in Tanzania.
Also available to witness the MoU signing were the Minister of State, Prime Minister’s Office, Investment and Empowerment, Dr Mary Nagu and the Minister for Trade and Industry, Dr Abdallah Kigoda.