China pours $2.5 billion (U.S.) into Tanzania

August 26, 2014

Africa, Business, International

China pours $2.5 billion (U.S.) into Tanzania

East African Business Week

DAR ES SALAAM — China said that its current investments in Tanzania have reached $2.5 billion. This makes them the second largest investor in the country.

The Economic and Commercial Representation of China in Tanzania said the two countries bilateral trade volume topped $3.7 billion in 2013, up 49% over the previous year.

Tanzania exports to China are mainly dominated by natural resources and agricultural inputs such cotton, beef and rice.

The Third Secretary of the Economic and Commercial Representation Wang Fang told East African Business Week in Dar es Salaam last week, further growth was more than likely.

She was speaking at the ‘Brands of China African Showcase 2014’ exhibition.

“The bilateral economic and trade cooperation has developed quickly and continues to widen and expand, thanks to joint efforts of the governments and enterprises of the two countries,” Ms Fang said.

She said China continues to improve its overall economic strength, technological innovation and corporate development level.

China’s exports to Africa, including Tanzania, are kept affordable and continue to improve in terms of product variety, quality and service level so as to make positive contributions and hence meet the increasing consumer demand, she said.

She said the Brands of China African Showcase aimed to further promote the development of the economic and trade relations between China – Tanzania and Africa at large as well as further deepening the understanding of China brands in African market.

The Executive Director of the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), Mr Daniel Machemba believes that the Brands of China African Showcase will become one of the important platforms for economic and trade exchange and cooperation between China – Tanzania and Africa.

Machemba said the showcase will help to achieve mutual benefits and all-win in China, Tanzania and African countries and promote new progress of the newly strategic partnership between China and Africa under the great support of the governments of China and Tanzania and all circles.

The showcase, an annual event in Africa, has been co-hosted by the Ministry of Commerce of the People’s Republic of China and related provincial (municipal) people’s governments since 2012.

The previous two sessions attracted a total of more than 300 exhibitors from China and received 73,643 visitors. It has achieved the expected results and is highly recognized by the political and business circles in Tanzania.

The exhibitors mainly come from the industrial bases in China including Fujian, Guangdong, Hebei, Guangxi, Jiangsu, Shandong, Hunan, Shanghai, Chongqing and Zhejiang and will show up in industrial clusters.

Regional presence is reflected in the Showcase 2014 to meet the demands of the merchants in different industries.

Based on the needs of Tanzanian and its surrounding markets, the Showcase 2014 will be divided into machinery and vehicles, home appliances, electronics and solar energy products, consumer goods, building materials, chemical, medical and comprehensive products.

The showcase 2014 will bring together more than 100 exhibitors from 12 provinces and municipalities in China, including those of the World Top 500 or well-known enterprises such as Guangdong Lesso Technology Industrial Co. Ltd, Jiangsu High Hope Group, Shenzhen Yingli New Energy Resources Co. Ltd, Nanjing Automobile Import & Export Co. Ltd, Shanghai Warrior Shoes Co. Ltd. and Shanghai Huayi (Group) Company.

Tanzanian
Tanzanian

Population: 49,639,138
-compared to Spain: 47,737,941

Dar es Salaam
Dar es Salaam

Dar es Salaam

Dar es Salaam

Business New from East Africa
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About Dilemma X

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