South Africa and Tanzania have encouraged the business sector from both countries to commit to and utilise some of the agreements signed by their respective governments in order to find it easy to operate in the continent. The discussion took place during the Trade and Investment Mission to Dar es Salaam, Tanzania organised by the Department of Trade and Industry (the dti).
According to the High Commissioner of South Africa to Tanzania, Mr Thami Mseleku, it is a well-known fact that South Africa is open for investment, and that President Cyril Ramaphosa has given missions a task to ensure that African investors are encouraged to invest in South Africa and the rest of the continent.
“The new diplomatic relations that were formed between the government of South Africa and Tanzania, and cemented by then former presidents, was to say perhaps we need to deepen our trade and investment relations in different platforms that might lead to us to trading with ease and forming sustainable partnerships in different sectors. That is why we continue to have these engagements on an annual basis to emphasise the importance of these agreements,” said Mseleku.
Mseleku added that these trade missions are not only a one-way process that will only benefit South African businesspeople. He said there were many Tanzanian businesspeople who are really beginning to find space to invest in South Africa.
“We are here not only to encourage South African businesspeople to look for opportunities and partners, but also for the Tanzanians to say how do we actually enter the South African market and tap into the sectors that can be beneficial for both countries,” he said
Speaking at the same seminar, the Service Manager of the Tanzania Chamber of Commerce, Industry and Agriculture, Ms Fatuma Hamis, said their aim as an organisation was to support business growth between neighbouring countries and Tanzania.
“As we all know the private sector is the engine of growth in any economy, therefore it is very crucial to create reliable platforms for investors and trade partnerships with the assistance of government in order to eradicate any hindrance that might delay business engagements and trade relations,” said Hamis.
Hamis added that the Government was keen to promote and enhance private investment in a number of key sectors, including infrastructure development, industrialisation, agriculture and power generation.
South African exports to Tanzania are predominantly in the area of manufacturing, namely machinery, mechanical appliances, paper, rubber products, vehicles, iron and steel, services and technology. Imports from Tanzania are mainly gold, coffee, cashew nuts and cotton.
South African business delegation is in Tanzania on a mission to deepen bilateral trade and investment relations between the two countries. This is in line with the objective of government to strengthen investment-led trade approach towards the African continent.
Companies that are participating in the mission have been funded through the government’s scheme, Export Marketing and Investment Assistance (EMIA). The aim of the scheme is to develop export markets for South African products and services and to recruit new foreign direct investment into the country.
Today the South African delegation will be hosted by
the Tanzanian Investment Centre which will present a package of bankable
investment projects. Thereafter, the delegation will visit the Export
Processing Zone to assess additional business opportunities in the
manufacturing, agro-processing and electronics sectors.