India and its economic partner in Africa— Tanzania have explored possibilities of opening an Indian SEZ in Tanzania and bilateral trade in Indian Rupees and Tanzanian Tshilling.
These ideas were explores when Secretary (ER) in MEA Dammu Ravi visited Tanzania on 06-07 October. During the visit, he met with Joseph Edward Sokoine, Permanent Secretary, Ministry of Foreign Affairs and East African Cooperation and Emmanuel M. Tutuba, Permanent Secretary, Ministry of Finance & Planning.
During his meeting with Sokoine, comprehensive discussions were held on the India-Tanzania bilateral relations. In the meeting with his Finance Ministry counterpart, Secretary (ER) discussed a range of issues including development cooperation, alternative ways of financing of projects, exploring possibilities of opening an Indian SEZ in Tanzania and bilateral trade in Indian Rupees and Tanzanian Tshilling. The Tanzanian side welcomed the ideas and both sides agreed to work on these, according to a statement by MEA.
The Secretary (ER) also addressed a business event at the High Commission of India where he interacted with about 85 entrepreneurs and CEOs of Indian and Tanzanian companies. Prominent members of the Indian diaspora also attended the event.
During his visit to Zanzibar on 07 October 2022, Secretary (ER) called on Hussein Ali Mwinyi, President of Zanzibar. President of Zanzibar welcomed the Indian development cooperation in Zanzibar and invited Indian investment in various sectors including IT, blue economy and healthcare in the island. Secretary (ER) also visited a project site under construction for supply of water to households of Zanzibar. Three Indian companies are presently implementing water supply projects in Zanzibar under Government of India Lines of Credit.
Tanzania is one of India’s major development assistance partners in Africa with over US$ 1.1 billion Lines of Credit and 700 annual scholarships for short-term and long-term courses. Bilateral trade stands at US$ 4.5 billion for 2021-22 and Indian investment in Tanzania is US$ 3.6 billion.
The Open Magazine of India by Artmotion Network (https://magazine.armotion.com/)