Tanzania and Rwanda committed to strengthening bilateral trade during the visit of the Rwandan President Paul Kagame to Tanzania on July 1st 2016.
Tanzania is Rwanda’s top export destination. In 2014 Rwanda’s export to Tanzania amounted to USD181m, representing almost 28% of the total value of Rwanda’s export.
Tanzania accounts for over 4% or USD80m of the total value of Rwanda’s imports.
The main exports of Rwanda to Tanzania are: niobium, tantalum, vanadium and zirconium Ore (33%), tin ores (28%), refined petroleum (16%), and tungsten ore (9.5%).
In July 2016, the countries committed to strengthening bilateral trade during the visit of the Rwandan President Paul Kagame to Tanzania.
Tanzania’s President Magufuli explained that the Tanzania Port Authority (TPA) will open an office in Kigali in Rwanda as an effort to promote and increase trade with Tanzania.
Earlier in 2016, Rwanda chose Tanzania over Kenya for the construction of a rail link to the Indian Ocean.
The Tanzanian option will link Kigali to Dar es Salaam for an estimated cost of around USD900m versus USD1bn for the Kenyan option, according to the Rwanda Ministry of East African Community Affairs.
Rwanda’s rail links to the Indian Ocean will pass through Tanzania, instead of Kenya, due to lower cost and less time needed for the construction.