How Tanzania can boost trade volume with Asian countries

 Indian High Commissioner to Tanzania Sandeep Arya is calling on Tanzanian companies engaged in agriculture to partner with Asian firms, if the country is to make maximum gains from agriculture.

Mr Arya says there is a high demand for agro-manufactured products in India and neighbouring countries, an opportunity that can be explored by Tanzanian players given the two countries’ healthy relationship.

“Another opportunity is in marketing and Information Technology (IT). So, I encourage local firms to extend their wings to the Middle and Far East countries to explore these opportunities,” he said when speaking at the 13rd Trade Exhibition held at the Mlimani City Hall in Dar es Salaam between from November 24-26, this year.

“So far, there are two Tanzanian companies operating in India…they are doing well in agriculture as well as Information Technology (IT). They are providing potential areas that Tanzanians can explore,” he says, adding: “This way we will be encouraging an improvement in bilateral trade.”

The organisers also expressed optimistism that the exhibition would provide Tanzanian companies with new techniques and skills on how to improve their businesses.

So far, the trade volume between India and Tanzania stands at $2.15 billion, with the former grabbing a larger portion as it has over 200 hundred companies operating in the country. Tanzania, on the other hand, has only three firms in India.

However, the envoy insists that business and trade relations between the two countries have been growing and expanding over the past few years.

Attending the exhibition, the vice chairperson of Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA) Dr Kingu Mtemi acknowledged the efforts, saying it provided the right platform for the two parties to learn from each other.

“The exhibition provides us with an opportunity to learn from our visitors who are ahead of us in international business. They can also explore investment opportunities here such as in oil and gas, agriculture, industries and others,” he said.

For their part, exhibitors lauded the business climate in the country, saying it was attractive and promising for foreign investors. We’ll be happy to come and invest here, given the good business and investment climate,” said Mr Pranay Maurarka, business development manager for Modware Company from India.

India and Tanzania enjoy a vibrant business and commercial relationship. India is a leading trading partner of Tanzania, accounting for 15 per cent of Tanzania’s foreign trade. India is also among top five investment sources in Tanzania. Major companies and brands present or operating in Tanzania with an indian connection include Bank of Baroda, Bank of India, Canara Bank, Tata International Limited, Bharti Airtel and National Mineral Development Corporation, Kamal Group of Industries, Escorts, Ashok Leyland, Eicher and Bajaj.