SADC SUMMIT 2019: 2,000 register for Sadc exhibitions

Dar es Salaam. A total of 2,026 people from the Southern African Development Community (Sadc) member states had until Saturday registered for participation in the Industry Week, which kicks off today (Monday).

Speaking yesterday ahead of the event, which runs until Wednesday, Industry and Trade deputy minister Stella Manyanya said 1,766 of the participants were Tanzanians. She added that some 938 of the total number of participants were exhibitors.

Ms Manyanya called on local investors to come up with products which could grab foreigners’ attention. “You need to use the Industry Week as a platform to market your products,” she suggested.

The deputy minister was of the view that if well utilised, the Industry Week could pave the way for partnerships with investors from other member countries. She added that local investors would also stand a chance to receive orders for locally produced products.

“It is high time you used the opportunity to identify and absorb all potentials in the Sadc integration, in a bid to boost intra-Sadc trade,” argued Ms Manyanya.

Going by the Bank of Tanzania’s (BoT) Economic and Operations report for 2017/18, the value of Tanzania’s total intra-Sadc trade stood at Sh3.6 trillion in 2017.

Sadc Industrialisation and Competitiveness senior programme officer Johansein Rutaihwa said only 21 per cent of agro-based products were transacted among member states.

“Intra-trade among member states is very low because we are trading mostly on agro-based products,” he said.

“Our focus should be on manufacturing if we are to up trade volume and enhance balance of payments.”

He said a number of initiatives were being taken among member states to increase production in manufacturing sector.

The initiatives include but not limited to enhancing macroeconomic stability through corruption crackdown to promote a fair playing field, and addressing power supply challenge, in an effort to take down operational costs.

He said a kilowatt of power was currently being sold at US$ cent 0.3 in Ethiopia, and 0.15 in Tanzania.

Industry Week, whose official opening is set to be graced by President John Magufuli, will be held in Dar es Salaam city ahead of the 39th Sadc Summit of Heads of State and Government.

The Summit is slated for August 17 and 18.