Earlier reports indicate that the bilateral trade volume between the two nations increased to Sh224 million (Sh500 billion) in 2021/2022, up from $163 million during the same period in the previous year.
Dar es Salaam. Pakistan is on track to raise its trade volume with Tanzania to $600 million (Sh1.62 trillion) within the next three years, following notable growth in recent years, it has been revealed.
Earlier reports indicate that the bilateral trade volume between the two nations increased to Sh224 million (Sh500 billion) in 2021/2022, up from $163 million during the same period in the previous year.
Pakistan’s High Commissioner to Tanzania, Mr Siraj Ahmad Khan, yesterday at the 77th Paskistan Independence Day said that since he arrived in the country in March last year, he had been trying to focus on a few key areas and one of them was trade and investment.
"When I was here in March last year, someone asked me about the trade. At that time, the trade volume was $224 million, and I said that my aim was to double it in the next two to three years.
So last year, the trade volume crossed $300 million," he said.
“Trade and investment are among the main areas of focus, and currently, cooperation between the two countries extends to agriculture, textiles, agricultural equipment, and other sectors.
“But there are other new areas, which we can cooperate, which we have discussed in our meetings earlier.
For example, telecom, banking sector, tourism and medical tourism,” he said.
Ambassador Khan further stressed that so far the opportunities were many and that the two nations were working to not only increase trade, but also to bring investment to Tanzania from Pakistan and that delegations had been exchanged in trying to work on that.
Speaking on behalf of Tanzania’s Pakistan Business Council General Secretary Lion Rizwan said that so far they were doing so well and all the Pakistan businessmen were coming to Tanzania to invest in the industrial sector.
“We are giving them all the support, and they are also reciprocating by inviting the Tanzanians to enhance our presence in Pakistan especially in the agriculture sector.
According to him, the crops most needed are soya beans and cashew nuts including other thing.which are to do with the serious cereals.
