Europeans boost Tanzania

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For the past year, the European Union Business Group (EUBG) has been in the middle of encouraging commercial links between business people in the European Union and Tanzania as a way to boost economic relations, including highlighting new investment opportunities.

“The formation of 70 private sector members is not an easy task and EUBG deserves accolades, as this evolves to trade and investment, making Tanzanians attain better lives,” Prof. Adolf Mkenda, the Permanent Secretary in the Ministry of Trade Industry and Investment said recently.

This was during an event to mark the first anniversary of EUBG in Tanzania

Morten Juul, the EUBG Chairman said: “Other achievements are to build a strong relationship with valued partners namely Tanzania National Business Council (TNBC), Tanzania Private Sector Foundation (TPSF) and fellow National business groups, formed a network of 70 private sector companies representing 12 European Union (EU) countries across 20 sectors of industry.”

He said the EUBG has hosted a variety of workshops, seminars and networking events supporting the private sector in Tanzania to appreciate and comply with legislation including a dialogue with TRA and the provision of inputs into the annual budget and started a network in northern Tanzania Arusha and Moshi regions to give support beyond Dar es Salaam.

According to Juul these achievements include the building of a strong relationship and dialogue with key institutions such as Tanzania Revenue Authority (TRA), Ministry of Finance, Immigration and Labour.

Speaking on the same occasion, Ambassador Roeland van der Gees, EU Head of Delegation to Tanzania and the East African Community commended EUBG for registering a considerable number of members hence a immense support to EU in its endeavour towards giving much focus in promoting trade between Europe and Africa especially Tanzania.

“Owing to its potentials, EU is ready to invest into Tanzania and at the same time promote mutual cooperation as a token of signification of the 14 years back achievements as well distinguish that the joint Africa EU strategy is the second proponent of the framework for EU’s political relations with Tanzania,” he said.

Ms. Rose Blackie EUBG Executive Director said that in doing so, EUBG seeks to contribute to the promotion of trade and investment between European Union and Tanzanian companies.

The EUBG also aims at creating a suitable framework for dialogue with the Government of Tanzania and other stakeholders on creating a stable environment for business and investments.

The European Union Business Group was formed in early 2015 and is a strategic partner for improving Tanzania’s business climate and promoting trade and investment between the two parties.

Historically, the EU and Tanzania have had a strong economic relationship in regard to investment, trade and donor relations.

As a bloc, the EU is Tanzania’s second export destination and its third largest trading partner.

Roughly 16% of Tanzania’s global exports are destined for the EU’s 28 member States.

Source: East African Business Week