Saudi Arabia Chooses Tanzania As Priority Country To Develop Trade And Investment In Africa

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The Kingdom of Saudi Arabia has recently selected Tanzania as a priority country to develop trade, investment and cooperation in the African continent.

Through a message delivered to Tanzania’s President John Magufuli by the Saudi Minister of Foreign Affairs, H.E. Adel Al Jubeir, the King of Saudi Arabia, Salman bin Abdulaziz Al Saud, explained his plans to strengthen cooperation  between the Kingdom and Africa by raising not only trade but also investments and development projects in Tanzania.

In a salute to congratulate President Magufuli for being elected to lead the fifth phase of government in Tanzania, King Salman said Saudi Arabia is committed to further promote bilateral ties with tanzania to bring greater benefits to its citizens.

For his part, President Magufuli thanked King Salman and the Saudi government for considering Tanzania as a priority country on their trade and investment expansion plan in Africa, while discussing with Minister Al Jubeir areas of further cooperations, such as education tourism and infrastructure.

Saudi Arabia is the third most important destination of exports from Tanzania to the Gulf Cooperation Council (GCC) totaling USD 20.7 million or 15.37% of the total exported with United Arab Emirates (UAE) toping the Arab block totaling USD 84.6 million or 62.8% of the total according to the Massachusetts Institute of Technology (MIT).

On the other hand, Saudi Arabia is Tanzania’s second most important source of imports from the GCC totaling USD 220 million or 12.91% of the total imported with UAE as the main source in the Arab block totaling USD 1,140 million or 66.94% of the total.