The Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA) has indicated that by 2016 Tanzania – India trade could double.
The promising forecast from the TCCIA Director, Mr Daniel Mchemba, came during a recent meeting with officials from the Confederation of Indian Industry (CII).
The CII has just finished a ten day mission in Africa seeking to encourage Indian exporters to target Africa and to create more opportunities for trade and investment.
During the gathering Mr Mchemba suggested that Tanzanians should take advantage of the opportunities being presented by India and encouraged Tanzanian business people to consider investing in the Asian country.
He also emphasized the importance of India as a trade partner especially for the agricultural products of ordinary farmers.
The two countries have a close, longstanding relationship. According to CIA India is Tanzania’s first export partner (15.2%) and its second import partner (16.3%).
According to IndiaShowTazania, the Indian trade roadshow in Tanzania that took place in September 2013, India-Tanzania trade grew between 2010 and 2011, from USD 1,121 Million to USD 1,772 Million.
According to the High Commission of India in Tanzania the top 3 imports from Tanzania are: gold, coconuts, brazil nuts and cashew nuts, and dried leguminous vegetables, while the top 3 indian exports to tanzania are petrol, wheat and meslin, and medicaments of mixed or unixed products.
