Dubai International Chamber, one of the three chambers under Dubai Chambers, has signed a Memorandum of Understanding (MoU) with the Tanzania Chamber of Commerce, Industry, and Agriculture (TCCIA) to strengthen trade and investment ties.
The agreement was finalized during the “Doing Business with Tanzania” business forum held in Dar es Salaam. This collaboration marks a new chapter in the relationship between the business communities of Dubai and Tanzania, aiming to foster economic growth and mutual prosperity.
The MoU outlines several areas of cooperation, including the organization of trade missions, business events, and conferences. Both parties will share expertise and information to align business policies and uncover investment opportunities.
The forum was supported by the Embassy of the United Arab Emirates in Dar es Salaam, the Embassy of the United Republic of Tanzania in the UAE, the Tanzania Investment Centre (TIC), and the Confederation of Tanzanian Industries (CTI), among others.
Speaking at the event, His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, underscored the strategic importance of this partnership. “This 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,” he said.
Vincent Bruno Minja, President and Board Chairman of TCCIA, emphasized Dubai’s role as a gateway for Tanzanian goods to global markets. He highlighted the historical ties between the two regions and identified agriculture, manufacturing, and minerals as key sectors of trade. Looking ahead, he pointed to tourism, energy, and technology as priority areas for further collaboration.
The forum, which featured speeches by senior officials from both countries, also included business-to-business meetings between 32 Dubai-based companies and Tanzanian enterprises. These interactions explored potential collaborations across industries such as construction, healthcare, technology, and agriculture.
Trade between Dubai and Tanzania has been steadily growing, with non-oil trade reaching USD 2.7 billion in 2023, marking a 9% increase from the previous year.
Dubai serves as a strategic gateway for Tanzanian exports, including agricultural products, minerals, and gemstones, while Tanzania imports vital goods such as machinery, pharmaceuticals, and manufactured products from Dubai.
As of September 2024, 274 Tanzanian companies were active members of the Dubai Chamber of Commerce.
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