DAR ES SALAAM: PRIME Minister Kassim Majaliwa said yesterday that Tanzania will continue to strengthen business and investment ties with the European Union (EU).
The Premier assured that the country is committed to deepening the bilateral cooperation with EU. He was speaking during the meeting with the EU’s ambassador, Ms Christine Grau at his Office in Dar es Salaam.
He said currently EU’s Foreign Direct Investment in Tanzania stands at 3 billion euros (about 8tri/-).
“It is truly inspiring to witness the growth in trade and investment between Tanzania and the European Union, as it continues to create more employment opportunities and enhance revenue generation,” said Mr Majaliwa.
The Premier said Tanzania will continue putting in place enabling business environment for the private sector to participate effectively in the country’s economic development saying the appreciates aids that are being provided by EU to support progress in the country.
“Between 2021 to 2027, the European Union allocated a total of 703 million euros (1.9tri/-) in support of Tanzania’s development. We thank you for your unwavering efforts to strengthen these bilateral relations,” he said.
Earlier, Mr Majaliwa held discussions with the Republic of Korea’s Ambassador, Ms Ahn Eun-Ju, during which he expressed Tanzania’s pride in its collaboration with the East Asian country across various economic sectors, including construction.
He explained that the trade volume between the two countries in 2023 reached 672.7 million US dollars (approximately 1.8 trillion TZS).
“We acknowledge the significant investments made by Republic of Korea’s firms in sectors such as manufacturing, transport and construction, which have contributed to our country’s development,” he said.
He added: “We greatly value their investment.” In a related development, the Premier requested the ambassador to strategise means for supporting Tanzania’s youths to get employment opportunities in the Republic of Korea especially in the production sector.
He said the Tanzania’s government will equip youths with required skills for getting jobs in the Republic of Korea.
Ms Ahn assured the prime minister that in her entire tenure in Tanzania will enhance development of investments for mutual benefits of the two countries.
