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March 5, 2024
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Tanzania India Bilateral Trade Volume Surges, President Samia Highlights Strong Economic Ties

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Tanzania-India Bilateral Trade Volume Surges, President Samia Highlights Strong Economic Ties

President Samia Suluhu Hassan has announced a significant increase in bilateral trade between Tanzania and India over the past five years. Speaking at Jawaharlal Nehru University in New Delhi, President Samia revealed that the trade volume between the two countries has risen from $2.6 billion in 2017/2018 to $6.5 billion in 2022/2023.

India, known as an Asian economic powerhouse, ranks among the top five countries investing in Tanzania. President Samia highlighted that 631 investment projects originating from India, with a total value of $3.7 billion, have contributed to making India Tanzania’s fourth-largest trading partner.

The President emphasized the importance of the growing economic ties between the two nations and called for India to become Tanzania’s number one bilateral trade partner and investment source, given their historic bonds and bilateral relations.

President Samia also expressed appreciation for India’s leadership and contribution to preserving and restoring values and humanity in an increasingly complex and materialistic world. She highlighted India’s active role in various international forums such as the Non-Aligned Movement (NAM), the Commonwealth, and the Group of 77 (G77) in the United Nations, which have allowed Tanzania to have a voice and representation.

The President’s remarks underscored the strong economic and diplomatic relationship between Tanzania and India, with both countries recognizing the importance of further enhancing cooperation and mutual benefits.

 

Source: Daily News Tanzania

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