By TZ Business News Staff.
Tanzania and South Africa have decided they will expand their trade and investment relations, the Tanzania Minister for International and Regional Affairs, Dr. Augustine Mahiga has said in Dar es Salaam.
The Minister made the remarks when opening an inter-State ministerial level meeting at the Julius Nyerere Conference centre in Tanzania’s business capital on Thursday, May 11, 2017. The meeting was part of scheduled activities during South African President Jacob Zuma’s two day State visit to Tanzania to take place following his arrival Wednesday night.
Speaking at the ministers’ meeting, South Africa’s Foreign Affairs Minister, Maite Nkoana Mashambane emphasized the need that exists to strengthen the historical, long lasting relations between Tanzania and South Africa with the aim of helping to develop peoples of the two nations.
South Africa and Tanzania enjoy excellent bilateral relations which date back to the days of the liberation struggle and were formalised by the two Governments in 1994.
A press statement released from Cape Town by the Department of Government Communication and Information of the Republic of South Africa said South Africa and Tanzania’s economic relations continue to grow apace and cooperation encompasses trade and investment, science and technology, agriculture, environment, energy, infrastructure development, retail, amongst others.
Trade figures between the two countries in 2016 indicated that South African exports to Tanzania were valued at R6, 5 billion, whereas imports from Tanzania amounted to R3.5 billion. There are currently over 150 South African companies operating in Tanzania in areas such as the financial services sector, hospitality and leisure as well as ICT and electronics.
During the visit President Zuma and his host, President John Pombe Magufuli will also address the South Africa-Tanzania Business Forum which will be held on the sidelines of the State Visit to strengthen economic relations between the two countries, the statement said.
President Zuma is in Tanzania accompanied by Minister of International Relations and Cooperation, Ms Maite Nkoana-Mashabane; Minister of Defence and Military Veterans, Ms Nosiviwe Mapisa-Nqakula; Minister of Science and Technology, Ms Naledi Pandor; Minister of Trade and Industry, Dr Rob Davies; Minister of Environmental Affairs, Ms Edna Molewa; and Minister of Transport, Mr Joe Maswanganyi as well as a business delegation.
President Zuma will co-chair the launch of the South Africa-Tanzania Bi-National Commission (BNC) with President of the United Republic of Tanzania, His Excellency John Pombe Magufuli.
The Agreement establishing the BNC was signed in July 2011 and will be operationalised and officially launched on 11 May 2017. The BNC is the highest mechanism regulating bilateral relations between the two countries.
During the visit, the two Heads of State will hold talks on a wide range of bilateral issues. This will include a review of the status of the bilateral relations; adoption of strategic interventions to further strengthen the relationship to focus on mutually identified priority issues; and discuss regional and continental peace and security issues.