TANZANIA is set to double its trade with India by increasing its revenues gained from the world economic giant country in trade from the current one of 2.3bn/-annually to 4.4bn/-in the coming years.
Mwanza Regional Commissioner (RC), John Mongela said yesterday during a round table meeting with the Indian High Commissioners to Tanzania delegations who visited the region for the aim of strengthening trade and economic issues between the two countries.
Mr Mongela said in order to achieve goal, the business communities from the two countries must work together purposely to exchange knowledge on various issues.
He said the country’s export to India which is the Tanzania largest partner for many years constitutes almost 10th of its global export and and that India is the fifth largest investor in Tanzania investing about 2.3billion US dollars.
He added that Indian investment in the country create more than 52,000 local jobs. The Indian High Commissioners to Tanzania Mr Sanjiv Kohil said India has invested a total of about 2.21billion US dollars from 1990 to 2018 and has employed a total of 55,000 persons in 424 projects established in the country.
He added that India has been supporting Tanzania in implementing various development projects.
He said at least 1038.48million US dollars has spent in in the implementation of various water projects in Dar es Salaam, Chalinze, Nzega, Igunga and 89 villages in Tabora and Zanzibar.
He added that a total of 500m US dollar has been allocated for water projects in 17 cities and towns.