- China and Tanzania recently signed 15 deals.
- China has a history of doing business with Tanzania.
- The deals signed primarily focus on agriculture and transport.
Yesterday Tanzania and China agreed on 15 trade deals.
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Tanzania and China agree on more than a dozen deals to foster stronger trade ties between both nations
President of Tanzania Samia Suluhu Hassan and President of China, President Xi Xinping
Both countries signed 15 agreements to build upon their bilateral trade relations. The agreements were signed as part of the agendas during the three-day visit of President Samia Suluhu Hassan to China.
The State House spokesperson Zuhura Yunus noted that the deal primarily focuses on avocado transportation, expansion of Zanzibar airport, and financial assistance worth 100 million yuan (Sh31.85 billion), alongside other agreements in the agricultural and transportation sectors.
“The government of China has agreed to provide a loan worth $56.72 million (Sh130.45 billion) for the expansion of the Zanzibar International Airport,” Zuhura stated.
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“This is a great achievement because President Hassan is the first top leader to be invited by President Xi Jinping since the outbreak of Covid-19 and his recent approval by the CPC congress to be the leader for the third term.” She added.
The meeting with the President of Tanzania Samia Suluhu Hassan, the Prime Minister of China Li Keqiang, and the country’s Speaker of the Parliament Li Zhan preceded the meeting between the President of China, President Xi Xinping, and President Hassan.
Both presidents witnessed the signing of all 15 agreements, all of which fosters cooperation and economic growth.
Both leaders spoke at length about how they would each put in efforts to make sure that the relationship between both nations remains beneficial and lucrative. They also noted that their collaboration would see to the creation of infrastructures in Tanzania.
Tanzania’s Ambassador to China, Mbelwa Kairuki, noted that China has a long-standing history of doing business with Tanzania. China is a leading source of Foreign Direct Investment (FDI) into Tanzania, accounting for 1,098 investment projects by October 2022 worth $9.6 billion, creating 131,718 jobs.
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“In the last three years, projects worth $8.5 billion have been implemented by Chinese enterprises in Tanzania. In the area of transport, we have seen direct flights from Guangdong, Guangzhou to Dar es Salaam,” he said.
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