Dubai International Chamber Concludes Trade Mission To Tanzania With 408 Business Meetings And MoU Signing

Dubai International Chamber, a part of Dubai Chambers, has successfully concluded its trade mission to Tanzania. This mission culminated in the signing of a Memorandum of Understanding (MoU) in Dar es Salaam, Tanzania's capital. The chamber facilitated 408 business meetings between companies from Dubai and Tanzania, aiming to foster new partnerships and explore mutually beneficial trade and investment opportunities.

The MoU was signed with the Tanzania Chamber of Commerce, Industry and Agriculture. It aims to boost cooperation and promote trade and investment flows between the two regions. The agreement focuses on strengthening collaboration between companies from both areas by organising trade missions, conferences, and business events.

During this mission, the chamber organised a business forum titled "Doing Business with Tanzania" in Dar es Salaam. This event was supported by various entities including the UAE Embassy in Dar es Salaam, the Embassy of Tanzania in the UAE, and several Tanzanian organisations such as the Tanzania Investment Centre and the Confederation of Tanzanian Industries.

The forum featured speeches from notable figures like Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers; Khalifa Abdulrahman Almarzooqi, UAE Ambassador to Tanzania; Dr. Selemani Saidi Jafo, Minister of Industry and Trade of Tanzania; Vicent Bruno Minja, President-Board Chairman of the Tanzania Chamber of Commerce, Industry & Agriculture; and Lt. Gen. Yacoub Hassan Mohamed, Ambassador of Tanzania to the UAE.

Lootah stated: "Dubai International Chamber’s trade mission to Tanzania comes as part of our strong commitment to enhancing economic and trade relations with promising African markets. This trade mission creates an exceptional opportunity to build bridges of cooperation between the business communities in Dubai and Tanzania and open new avenues for strategic partnerships that will contribute to mutual growth and prosperity."

According to data from Dubai Customs, non-oil trade between Dubai and Tanzania grew by 9% year-over-year in 2023, reaching AED9.8 billion. By September 2024, 274 Tanzanian companies were registered as active members with Dubai Chamber of Commerce.

The forum also provided updates on Dubai’s trade landscape, showcasing its competitive advantages to Tanzanian businesses. Presentations highlighted significant opportunities for Dubai companies within the Tanzanian market.

Sector Opportunities

The chamber identified several promising export sectors from Dubai to Tanzania. These include automotive components, electric bikes, car tires, vehicle engines, cooking oils, textiles, and wheat. In contrast, attractive sectors for investment in Tanzania are energy and mining, pharmaceuticals, real estate, agriculture, and manufacturing.

The trade mission included representatives from 32 private sector companies based in Dubai across various industries such as construction materials, engineering services, food production, retail storage solutions, oil exploration services, electrical appliances manufacturing healthcare services energy solutions automotive technology agritech innovations information technology advancements among others.

This initiative underscores a commitment to fostering economic ties with Africa's emerging markets while exploring strategic partnerships that benefit both regions economically.

With inputs from WAM