US: Tanzania’s strong private sector fundamental

TANZANIA should continue creating a strong private sector to speed up economic growth and increase employment, United States Ambassador to Tanzania, Michael Battle has said.

He said that the trade cooperation between the private sector of the US and Tanzania has been a pillar in the development of business and economic growth of the two countries.

Ambassador Battle was speaking during the US-Tanzania Roundtable organised by the Confederation of Tanzania Industries (CTI) in partnership with the Corporate Council on Africa (CCA).

He said the strong private sector is a major basis for economic growth in many developed countries, helping to create many jobs necessary for people to get out of poverty to the middle class.

He said if the government wants to achieve its goals easily; it should create a friendly environment to bolster the private sector for creating many jobs and stimulating the country’s economy.

On the African Growth and Opportunity Programme (AGOA) Ambassador Battle said the programme has been of great benefit to the economies of many African countries and all US major parties Republican and Democrat support it.

“The US President Joe Biden supports AGOA, the Congress of the United States supports this programme and without a doubt, you can witness how it has been a saviour for the development of many African countries to enter the American market,” he said.

The Chairman of (CTI), Paul Makanza said CTI has been cooperating with the Corporate Council of Africa (CCA) to promote trade and relations between the US and Tanzania.

“We have discussed how American products can easily come to the Tanzanian market and how American businessmen can come and invest in making their products here by adding value to them,” he said.

He said that Tanzania has not yet made good use of the large American market as it has been sending a lot of raw materials, especially agricultural materials and various minerals, instead of sending value-added products.

The Executive Director General of (CTI), Leodegar Tenga said they are determined to continue the existing cooperation by being close and understanding what American businessmen have and what their Tanzanian counterparts have.

Ambassador of Tanzania in the US, Dr Elsie Kanza, said it is important to give businessmen information about the products required in the US and to manufacture them based on the standards that will be accepted in the market.

“The American market is very large but many traders fail to reach the required standards and not only Tanzania traders from many African countries have been unable to reach them,” he said.

The ambassador said that in the special meeting of AGOA held for four days in South Africa, they have agreed to empower the businessmen of African countries so that they can reach the required standards so that they can benefit from the opportunity of the market.

The Investment Promotion Manager at EPZA Mr Panduka Yonazi said that the Export Processing Zones (EPZ) programme has industries that make products for the US market and provide jobs to over 7,000 people.

The industries are namely, Tanzania Tooku Garment – Dar es Salaam, Mazava Fabrics in Morogoro and Red Earth in Arusha.

“The extension of the AGOA contract is of paramount importance because it guarantees investors with reliable markets and also protects employment, whereby 70 per cent are women,” he said.

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