Tanzania-Turkey Forge $1 Billion Trade Pledge in President Samia Suluhu’s State Visit

President Samia Suluhu Hassan and President Recep Tayyip Erdoğan in a photo together with the representative of Tanzania who is the Director General of the Investment Center TIC Mr. Gilead Teri and the representative of Turkey who is the Vice President of the Office of the President Investments.

Tanzania’s President Samia Suluhu Hassan embarked on a significant state visit to Turkey from the 17th to the 21st of April 2024, aimed at strengthening bilateral relations between the two nations.

During her visit, President Hassan met with President Recep Tayyip Erdoğan at the Presidential Complex to discuss a wide range of issues of mutual interest.

President Hassan and President Erdoğan engaged in fruitful discussions, focusing on enhancing trade and investment cooperation between the two countries.

They reaffirmed their commitment to increasing the bilateral trade volume to USD 1 billion, demonstrating a shared ambition for economic growth and prosperity.

In line with their ambitious goals, President Hassan and President Erdoğan oversaw the signing of six Memorandums of Understanding (MoUs) covering key areas such as education, economic diplomacy, and cultural cooperation.

During their discussions, President Erdoğan and President Hassan also addressed pressing global issues, including the ongoing crisis in Gaza. They emphasized the importance of concerted efforts to achieve a lasting ceasefire and pave the way for a two-state solution.

At the press conference, President Erdoğan expressed his pleasure at welcoming President Hassan to Turkey, emphasizing the significance of her visit in strengthening bilateral ties, commenting: “We thoroughly reviewed our cooperation during today’s talks. We discussed the steps that can be taken to boost mutual trade and investments. Our bilateral trade volume increased from USD 11 million in 2003 to USD 345 million last year. However, these figures fall short of reflecting our true potential despite the increase. We aim to increase our trade volume to USD 1 billion in the first phase. We will intensify our efforts to this end in the period ahead. The Türkiye-Tanzania Business Forum, to be held with the participation of Ms. President tomorrow in Istanbul, will serve as an important step in this direction.”

Noting that Turkish companies have thus far successfully implemented 14 projects worth USD 6.4 billion in Tanzania, President Erdoğan also stated: “Tanzania ranks the third in Africa and the first in Sub-Saharan Africa in terms of the total number of projects undertaken by Turkish contractors. Our companies have made major investments in Tanzania in such areas as railway construction and modernization, shipyard and shipbuilding, and road construction. It is a source of pride for us that a large part of the Standard Gauge Railway, which will traverse the entire country, is being built by a Turkish company.”

President Hassan, in turn, commended Turkey’s role as a valued partner to Tanzania and expressed gratitude for the warm welcome extended to her delegation. She highlighted the importance of the MoUs signed during her visit and emphasized the need for concrete actions to implement the agreed areas of cooperation.

“Going forward we have agreed that our ministers and teams of experts meet and come up with a framework that can be used to strategize on the implementation of the agreed areas of cooperation,” she noted.

During her five-day state visit to Turkey, President Hassan was awarded the degree honoris causa by Ankara University. The doctorate is in recognition of her exceptional leadership in advancing social, political, and economic reforms that have improved the welfare of Tanzanians, enhanced Tanzania’s reputation around the world, and developed commercial, economic, and political relations between Tanzania and other countries, including Turkey.

Want to know more about Trade in Tanzania? Our free Tanzania Business and Investment Guide 2026 covers Trade, plus regulations, key sectors, and investment opportunities—all in one place.

Download Free Guide
Related Posts
TANZANIA ECONOMIC UPDATE YE APRIL 2026
Read More

Tanzania Exports Grow 13.5% to USD 18.9 Billion in Year Ending April 2026, Led by Gold and Tourism

The Bank of Tanzania's May 2026 review shows exports rising 13.5% to USD 18,876.7 million for the year ending April 2026, led by gold and tourism, while headline inflation climbed to 4% on higher fuel prices. Private sector credit grew 23.6%, the CBR was held at 5.75%, the Shilling appreciated 2.7% to TZS 2,612.46 per USD, and foreign exchange reserves reached USD 5,722.5 million, covering 4.4 months of imports.
TPSF Strategic Policy Note Private Sector Investment
Read More

TPSF Policy Note Urges Tanzanian Private Sector to Shift from Trading to Investment as FDI Hits USD 1.72 Billion in 2024

The Tanzania Private Sector Federation (TPSF) has released a Strategic Policy Note urging local entrepreneurs to transition from trading into productive investment, as Foreign Direct Investment inflows into Tanzania reached a record USD 1.72 billion in 2024, a 28.3% increase year-on-year. The note argues that Tanzanian entrepreneurs must move beyond importation into local manufacturing and value addition, targeting sectors where Tanzania holds a competitive advantage, namely agro-processing, textiles, construction materials, and pharmaceuticals.
TANZANIA ECONOMIC UPDATE YE MARCH 2026
Read More

Tanzania Monthly Economic Review March 2026: Exports Rise 12.8% as Gold Jumps 38.5%, Manufacturing Up 32% and Tourism Receipts Reach USD 4.3 billion

Tanzania’s Monthly Economic Review for March 2026 shows export earnings rose 12.8% to USD 18.6 billion, driven by a 38.5% increase in gold exports to USD 5.2 billion, a 32% rise in manufactured goods exports to USD 1.8 billion, and stronger service receipts from tourism and transport. Travel earnings reached USD 4.3 billion, transport receipts rose to USD 2.7 billion, and traditional exports also increased.