Mr. Chairman,
Organizers and sponsors of the 11th China International Fair for Investment and Trade,
Ladies and Gentlemen,
Let me take this opportunity to express my sincere gratitude for the warm reception extended to me and my delegation since our arrival in this beautiful country. The purpose of my visit to your great country is to contribute to the promotion of bilateral trade and investment co-operation between Tanzania and China.
Tanzania admires the tremendous progress achieved by your country in various spheres of the economy including agriculture, trade, industry, science and technology. To date China is renowned for its technological, trade and economic prosperity.
Tanzania cherishes the existing excellent diplomatic and trade relations with China, which has over the years remained cordial and grown from strength to strength. More importantly is the interest China has for my country which is evidenced by the tremendous assistance we have been receiving to augment our development efforts. There are a number of projects that remain the symbol of closer ties and cooperation between China and Tanzania. the ultra-modern football stadium, which is being constructed under the Chinese assistance and technology are among the outstanding projects that bear the significance of our cooperation.
Tanzania also benefits from the Sino-Africa Programme, under which China has also extended to Tanzania a quota and duty free market access under the Special Preferential Tariff Agreement for over 400 items this year. This programme has started to bear fruits. In the 2006 Tanzania exported goods worth US$ 12.0m under the arrangement. We hope more goods will be exported in 2007 because the arrangement is now known to many exporters.
Under the same spirit of enhancing bilateral cooperation the Guangdong Province sent to Tanzania strong delegations of more than 405 entrepreneurs in June 2007 and a follow-up delegation of 60 entrepreneurs in August 2007. The match making and business interaction between Chinese entrepreneurs and their counterparts in Tanzania realized contracts worth more than US $ 70 million and orders worth more than US $ 58million.
The follow up visit in August 2007 also culminated in signing 8 Memoranda of Understanding (MoUs) on Small & Medium Enterprise Cooperation; Framework Agreement on Promoting Trade Cooperation; Agreement of Partnership for Gemstone Mining; Agreement of Partnership for Real Estate Project; Sole Distribution Agreement; Agreement of Partnership for Fishery Cooperation; Letter of Intent of Investment and Trade Cooperation. This has further consolidated the bond between Chinese and Tanzanian entrepreneurs.
On behalf of the Government of the United Republic of Tanzania and on my own behalf, let me take this opportunity to express our gratitude for your continued support and your relentless efforts to enhance trade and economic cooperation between the United Republic of Tanzania and the People of Republic of China.
Mr. Chairman, let me share with you, Tanzania¡¯s trade and investment policy framework, for investors to make informed decisions to invest in Tanzania.
The Government of Tanzania has all along accorded priority to economic reforms that aim at achieving macro-economic stability. We have been guided by the need for policy clarity, policy predictability and private sector friendly macro and sectoral policies.
For the past two decades Tanzania has been implementing reform measures that have placed the private sector at the centre and key player in economic activities. On its part, the Government has concentrated on putting in place an enabling environment and the management of macro-economic variables. The Tanzania currency is more predictable and fairly stable.
Tanzania has enacted an Export Processing Zone Law which offer competitive incentive package to those intended in investing for export markets.
The reform measures we have been implementing have placed the private sector at the centre and as key player in economic activities. In this respect we have put in place policy instruments and measures that protect the interests of both domestic and foreign investors. Tanzania is also eligible to preferential markets of U.S.A. under the Africa Growth and opportunity Act (AGOA) as well as EU preferential market under Everything But Arms (EBA).The preferential markets offer quota free and duty free market access for products originating from eligible countries including Tanzania.
Mr. Chairman,
Let me also share with you trade and investment opportunities. In addition to traditional crops, Tanzania has potential areas in trade and investment that include horticulture and floriculture, fish and aquaculture.
Tanzania is rich in base metal minerals; gemstones; gold; Tanzanite; coal; and natural gas. The opportunities also available in this area include refining, processing, smelting, cutting and polishing of gemstones. Power generation projects, Roads, Seaports and airports as well as ICT projects are available for investors on build-own- transfer arrangement. This is another area with abundant areas of investment in hotels and accommodation including tour operators.
Mr. Chairman,
Tanzania has plenty to offer to China, but most of what Tanzania can offer is in unprocessed form. We need your technology to transform our production to more value added exports.
The Chinese capital and technology is also needed to develop and assist to transform Tanzania¡¯s industrial sector from a predominantly consumer to an intermediate and capital goods sector. Let me take this singular opportunity to call upon Chinese captains of industry to be part of the structural transformation process of Tanzania¡¯s industrial sector.
My visit and attendance to the 11th China International Fair for Investment and Trade is yet another opportunity to consolidate the existing friendly relationship and cooperation between our two countries. More importantly I would like to urge the Chinese entrepreneurs to come in numbers to Tanzania to explore areas of trade and investment in collaboration with our entrepreneurs on various areas mentioned above.
