Tanzania, Indonesia agree to increase value of bilateral trade, investment, technology transfer

DAR ES SALAAM: THE Tanzanian government has reaffirmed its commitment to strengthening trade relations with Indonesia by increasing the value of bilateral trade, investment and technology transfer between the two countries.

The remarks were made today by the Chairperson of the Board of Trustees of the Tanzania Trade Development Authority (TanTrade), Prof. Ulingeta Mbamba, during the Indonesia Day celebrations held at the 50th Dar es Salaam International Trade Fair (DITF), popularly known as Sabasaba.

Prof. Mbamba said Indonesia has made remarkable progress in several sectors, including industrial development, fish processing, aquaculture technology, garment manufacturing, consumer goods production, energy and manufacturing industries.

He noted that Tanzania also offers significant investment opportunities in mining, tourism, the blue economy, manufacturing and infrastructure development, providing a strong foundation for expanding economic cooperation between the two nations.

“The government, through the Ministry of Industry and Trade, is committed to ensuring that this partnership delivers tangible results by increasing the value of trade between our countries, promoting joint investment ventures, enhancing technology and knowledge transfer, and strengthening business-to-business cooperation between Tanzanian and Indonesian companies,” Prof. Mbamba said.

He added that the government expects bilateral trade to continue growing steadily, with more Indonesian products entering the Tanzanian market while an increasing number of Tanzanian products gain access to the Indonesian market.

According to Mr Mbamba, the Ministry of Industry and Trade, in collaboration with TanTrade, continues to improve the business environment by promoting industrial development, encouraging value addition, expanding export markets for Tanzanian products and creating an enabling environment that supports business growth.

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Speaking about the ongoing Dar es Salaam International Trade Fair, Mr  Mbamba described the exhibition as an important platform for showcasing Tanzania as an attractive destination for trade and investment while strengthening commercial ties with international development and business partners.

He also commended Indonesia for participating in the trade fair for three consecutive years, saying the continued presence reflects the country’s confidence in the exhibition and its commitment to deepening trade and economic cooperation with Tanzania.

Meanwhile, Indonesia’s Deputy Ambassador to Tanzania, Priadji Soelaiman, said Tanzania and Indonesia have enjoyed longstanding diplomatic relations that have continued to yield positive results in promoting trade, investment and economic development in both countries.