africa Diplomacy FDI Tanzania

Tanzania-UAE forum explores partnership prospects

Approximate reading time: 2 minutes

Investors and companies in Dubai were called to take advantage of the attractive business opportunities in Tanzania at the Tanzania-UAE Business & Investment Forum on April 26 in Dubai, UAE.

The high-level forum, hosted at the premises of the Dubai Chamber of Commerce and Industry was organised by the Consulate General of Tanzania in Dubai, and attended by Amina Salum Ali, Minister of Trade, Industry & Marketing in Tanzania; Mbarouk Nassoro Mbarouk, Ambassador of Tanzania to the UAE; Ali Jabir Mwadini, Consul General of Tanzania to Dubai; Majid Saif Al Ghurair, chairman of Dubai Chamber, senior officials of Dubai Chamber, Tanzania Investment Centre (TIC) and the Zanzibar Investment Promotion Authority (ZIPA).

Addressing delegates during the forum, Al Ghurair stated that Dubai is an ideal partner for Tanzania given the emirate’s strategic position as a re-export with strong links to the GCC, Middle East and Asia.

Al Ghurair noted that Dubai accounts for a majority of the UAE’s trade with Tanzania, and revealed that Dubai-Tanzania non-oil trade has remained has grown steadily to reach$1.8 billion in 2017, adding that more than 200 Tanzanian companies are registered with Dubai Chamber.

Dubai Chamber’s chairman said the Forum provided an opportunity to strengthen trade and investment ties between the UAE and Tanzania, and reaffirmed the Chamber’s commitment to providing all necessary support to ensure that bilateral relations continue to develop and flourish in the future.

Al Ghurair described Tanzania as a market of strategic importance to Dubai, and explained that the Chamber currently operates four representative offices in Africa located in Ethiopia, Ghana, Mozambique and Kenya, which play a key role in expanding Dubai’s economic cooperation with markets across the continent.

Amina Salum Ali thanked Dubai Chamber for its support in hosting the Forum and stressed Tanzania’s commitment to enhancing its trade relations with the UAE. She highlighted tourism, manufacturing and real estate as key sectors which offer attractive opportunities for UAE investors, and invited UAE businessmen to visit Tanzania to learn more about the country’s dynamic economy and business environment.

Source: GDN Online

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