Tanzania and Switzerland launch chamber of commerce

Dar es Salaam. The official launch of the Switzerland–Tanzania Chamber of Commerce (STCC), which took place on Monday evening, is set to boost trade between the two countries.

Trade volume between the two countries stood at Swiss Franc (CHF) 49.1 million (about Sh122.5 billion) in 2021, according to the official data.

Of the amount, Tanzania’s exports to Switzerland stood at CHF 10.6 million (about Sh26.4 billion), while imports were quoted at CHF 38.5 million (about Sh96 billion).

This suggests that trade is in favour of Switzerland, a trend that is pressing for a need to set a stage for a win-win situation.

Investment, Trade and Industry deputy minister Exaud Kigahe urged the business communities of Tanzania and Switzerland to use the just launched chamber of commerce as a bridge to facilitate a win-win business between the two parties.

“With the inauguration of this chamber of commerce, we hope the interests of companies and investors from both countries will be represented well,” said Mr Kigahe at the unveiling of the STCC here in the city.

This, he added, will even attract more businesses and make them easier to access the Tanzanian-Swiss markets and continue strengthening economic cooperation.

He welcomed the Switzerland companies to come and invest in the sectors of manufacturing, tourism, agriculture, fisheries, livestock, mineral processing, pharmaceuticals and the blue economy.

Switzerland State Secretary for Economic Affairs Helene Artieda said the Chamber of Commerce could serve as a platform for businesses from Switzerland and Tanzania to explore new opportunities for growth and development.

She went on to say, the new development could serve as an entry point for new investors and businesses interested in Tanzania.

“The establishment of the Swiss-Tanzania Chamber of Commerce is a crucial step towards our shared endeavor of closer economic ties,” said Ms Artieda.

She went on to add: “The launch of the chamber of Commerce is a reflection of the growing significance of Tanzania as a trade partner and destination for Swiss investment.”

She commended the concerted efforts made to improve the business environment, attract foreign companies and foreign investments in the country.

“Good progress has been achieved already, but we all know that more can and should be done in order to fully unlock the country’s true potential for the greater benefit of all,” observed Ms Artieda.

In his opening remarks, Ambassador of Switzerland to Tanzania Didier Chassot said the main objective of the STCC is to promote economic cooperation and opportunities between the two countries.

“I am optimistic the STCC will act as a gateway for Swiss and Tanzanian businesses to spur investments to Tanzania and advance economic relations,” said Mr Chassot.

The STCC will be a platform for organisations to connect and exchange, develop business and investment opportunities, and build and maintain economic bonds between the two countries.