Turkish envoy cherishes bilateral trade,investment cooperation with Tz

05Nov 2019
The Guardian Reporter
The Guardian
Turkish envoy cherishes bilateral trade,investment cooperation with Tz

BILATERAL trade and investment between Turkey and Tanzania has been on an upsurge thanks to a 2017 visit by President Recep Edorgan.

Ambassador to Tanzania, Ali Davutoglu.

Turkish Ambassador, Ali Davutoğlu said in Dar es Salaam last week as his country marks its 96th independence anniversary, that bilateral trade increased significantly since Edorgan’s visit with many investors coming to Tanzania.

“Several agreements were signed during the said visit with legal framework of our relations have been established and opened the way for cooperation in different fields,” Ambassador Davutoglu said.

He pointed out that the volume of trade in 2018 reached the peak with Tanzania’s exports to Turkey worth U$ 41 million while importing goods worth U$225 million from Turkey.” Turkey exports mainly iron and steel bars, construction materials, tanker trailers,” he noted saying the country’s exports to Ankara are mainly tobacco, cotton, sesame seeds, cashew-nuts and coffee.

Ambassador Davutoglu further noted that several Turkish companies are investing in the country including Yapı Merkezi, which is undertaking construction of the first and second phases of the Central Corridor’s Standard Gauge Railway Project.

It is the first Turkish company having such a big and important contract of infrastructure in Tanzania and we are proud of the company which is one of the best and most experienced and reliable worldwide Turkish company,” he added.

“In this respect, I believe that the SGR Project is exactly a landmark and turning point in our relations leading to wide ranging commercial and economic exchanges and joint ventures in construction. With this project, there is an increasing awareness in Tanzanian government and business circles about Turkey’s economic capacity and recognition of Turkey as a reliable and trustworthy trading partner,” the Turkish envoy underlined.

Ambassador Davutoglu also praised the country’s leadership for continued political and economic stability, which provides a conducive environment for investment in addition to its prime location in East Africa.

He also named affordable labour, the huge market and good infrastructure as other factors attracting Turkish investors.