Dar, Riyadh eye bigger livestock markets
DAR ES SALAAM: TANZANIA and Saudi Arabia have reiterated to deepening their economic ties in the livestock sector by boosting production, expanding value addition and opening new international markets for mutual benefit.
The commitment was made recently during a visit by a Saudi-Tanzania Joint Business Council delegation, led by its CoChairman, Eng Abdulrahmani Al-Thubaiti, to the Nguru Hills Ranch Meat Processing Plant in Morogoro Region to explore investment and trade opportunities in the livestock sector.
Speaking during the visit, Eng Al-Thubaiti expressed satisfaction with the plant’s operations, saying that it adheres to international quality standards.
“Saudi Arabia will continue to strengthen cooperation with Tanzania to promote production, add value to livestock products and open international markets for the mutual benefit of both countries,” he said.
Nguru Hills Ranch General Manager, Mr Noel Tuga, assured the delegation that Tanzania provides a stable, secure and investment-friendly environment.
He added that locally produced meat meets high-quality standards, enabling Tanzanian producers to compete effectively in international markets.
The visit forms part of a five-day programme by a Saudi private-sector delegation to Tanzania under the Joint Business Council framework, aimed at transforming the two countries’ long-standing diplomatic relations into a stronger economic partnership centred on investment, trade, industrialisation and value chains.
The programme started with a business forum, which brought together 47 business principals from 44 Saudi companies and institutions, 66 representatives registered by the Tanzania Private Sector Foundation (TPSF), and 19 representatives from ministries, regulators and public institutions.
The delegation also visited the strategic industrial and investment sites, including Kinyerezi Power Plant, the Medical Stores Department (MSD), the State Mining Corporation (STAMICO), Mtwara, Nguru Hills Ranches and Property International.
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In Zanzibar, the delegation held meetings with authorities responsible for industry and trade, labour and investment through the Zanzibar Investment Promotion Authority (ZIPA), as well as water, energy and minerals.
It is also engaged with the Zanzibar State Trading Corporation. The two countries are seeking to deepen its bilateral economic relationship with both countries seeking to transform their economies through greater private-sector participation, investment in productive sectors and development of new sources of economic growth.
Tanzania is seeking to attract Saudi capital to expand production and narrow a trade gap. Tanzania currently exports goods worth roughly 36 million US dollars to Saudi Arabia, while imports from the Kingdom are estimated at between 900 million US dollars and 1.44 billion US dollars.
Using the lower import estimate, Tanzania imports about 25 times more from Saudi Arabia than it exports to the Kingdom, despite Tanzanian exports growing at an average annual rate of 15.2 per cent over the past five years, compared with 9.4 per cent for Saudi exports to Tanzania.
