India and Tanzania agreed to enhance sectoral cooperation
The Dollar Business Bureau
India and Tanzania on Tuesday agreed to enhance sectoral cooperation at the fourth session of the India-Tanzania Joint Trade Committee meeting held in New Delhi. It was decided that the cooperation would be based on the needs of therespective sides and comparative advantage for mutual benefit.
Tanzania is a beneficiary of the Indian Duty Free Tariff Preference Scheme, which has considerably boosted the exports from Tanzania to India in past few years, said an official release from the Ministry of Commerce.
At the meeting, Commerce and Industry Minister Nirmala Sitharaman led the Indian delegation and the Tanzanian delegation was led by Charles John Mwijage, Minister for Industry, Trade and Investment of Tanzania.
In her address, Sitharaman said, “India and Tanzania enjoy close and cordial relations and underscored the unwavering bonds of friendship and solidarity, underpinned by a shared history of struggle against colonialism and the growing strategic partnership, multifaceted co-operation and vibrant people to people contact existing between the two countries.”
Both the sides discussed cooperation in many sectors such as gems and jewellery, mining, oil and natural gas, energy (hydro, thermal, gas, diesel, solar power plants), transport, water supply projects, agriculture, capacity building, human resource development and trade promotion.
Indian side also asked Tanzania to consider providing long-term visas for reputed Indian business firms with multi-entry facility in order to boost investments between the two nations.
“During the discussions, it was mentioned that long-term (at least one year visas) for reputed business companies with multi-entry facility will be helpful to promote investments and business collaboration between the two countries,” the release said.
Tanzania provides visa on arrival facility but it is available only for a period of three months.
Tanzania is one of the most significant countries for India in African continent, with regards to bilateral cooperation in several sectors. The east African country is among the top 5 destinations of investment for India, with an investment of about $2.2 billion.
At the meeting, the Indian side conveyed to Tanzania that the potential sectors for Tanzania include motor cars and vehicles, light oils and petroleum, bituminous minerals, medicaments etc. Likewise, dried cashew nuts in shells, metals and minerals, etc from Tanzania are required in India.
Tanzania encouraged cooperation in the areas of fisheries, information, communication and technology (ICT), labour and employment, industrial development including industrial research and development and SMEs development, arts, culture and sports.