Tanzania and the Democratic Republic of Congo (DRC) have signed an agreement aimed at bolstering bilateral trade and creating more business opportunities. The agreement was signed in Dar es Salaam by Tanzania's Minister for Industry and Trade, Judith Kapinga, and DRC Minister of Trade Julien Paluku Kahongya. This development is expected to strengthen economic ties between the two countries.
The signing of the agreement follows a recent visit by the DRC President, focused on exploring trade opportunities, with the DRC relying heavily on the Port of Dar es Salaam to transport goods to the country. The Port of Dar es Salaam is a key link in trade between Tanzania and the DRC. The DRC delegation also visited the Tanzania Ports Authority (TPA) to learn about the port's operations.
Minister Kapinga stated that priority areas of cooperation include transport, exports, trade facilitation, infrastructure development, and cross-border trade. The two countries have also agreed to establish a joint trade committee aimed at improving the business environment and strengthening commercial relations between them. This committee is expected to play a crucial role in enhancing trade between the two nations.
The Ministry of Industry and Trade's Director of Trade Development, Sempeho Manongi, described the DRC as an important trading partner for Tanzania. He mentioned that products produced in the DRC, including minerals, could be transported through the Port of Dar es Salaam and utilise Tanzania's infrastructure. This development is expected to increase trade between the two countries.
Manongi also stated that Tanzanian products could gain greater access to the Congolese market. He urged private-sector stakeholders to take advantage of the business opportunities emerging from the strengthened trade relations between Tanzania and the DRC. This is expected to boost economic growth in both countries.
Tanzania is continuing to improve its infrastructure and business environment to expand trade with neighbouring countries. The country is investing in infrastructure development to facilitate trade and attract foreign investment. This is expected to have a positive impact on the country's economy.
The agreement between Tanzania and the DRC is expected to have a positive impact on trade between the two countries. The two countries are optimistic about the future of their trade relations and are committed to working together to enhance economic growth and create business opportunities.
Key points
- The agreement aims to boost economic growth and create business opportunities between Tanzania and the DRC.
- The two countries have agreed to establish a joint trade committee to improve the business environment and strengthen commercial relations.
- The DRC relies heavily on the Port of Dar es Salaam to transport goods to the country.
