During Tanzanian President Samia Suluhu Hassan’s state visit to India from 8-11 October 2023, India and Tanzania have decided to uplift their historical ties to a Strategic Partnership level.
This decision underscores their intent to deepen collaboration across a multitude of sectors, with a primary focus on enhancing cooperation, trade, and investment.
The visit witnessed the signing of 14 distinct agreements and a treaty. Out of these, government institutions are directly involved in ten, while the private sector plays a role in the remaining five.
One of the most notable outcomes of the visit was the decision to set up a pharmaceutical center in Tanzania.
This center is envisioned to transform Tanzania into a dominant pharmaceutical producer and exporter for the East, Central, and Southern Africa regions.
Additionally, an agreement was reached to allocate land in Tanzania’s Coast region for the development of an industrial park.
The park, which will have the backing of 200 Indian industries, is set to specialize in pharmaceuticals, value-added goods, and agricultural equipment.
The two nations also expressed their commitment to collaborate in defense, emphasizing technology transfers, combined military training, and knowledge sharing.
Maritime security, trade, and the blue economy are other areas of focus, with both countries keen on addressing challenges like piracy, illegal fishing, and drug trafficking in the Indian Ocean.
In agriculture, Tanzania showcased its ambitious irrigation project, seeking a USD 1 billion fund from the Exim Bank of India, aiming to channel water from Lake Victoria to its central regions.
Speaking on the occasion, President Samia Suluhu Hassan highlighted the importance of the collaborations, highlighting Tanzania’s strategic advantage in East Africa and its significant market potential.
Emphasizing the investment opportunities, she said, “By 2025, we aim to attract foreign direct investments worth USD 15 billion,” and reassured potential investors of Tanzania’s welcoming business environment.
On the Indian side, Commerce and Industry Minister, Piyush Goyal, spotlighted the collaboration opportunities spanning sectors like tourism, agriculture, healthcare, pharma, and space. He also mentioned India’s commitment to aiding infrastructure development in Tanzania through lines of credit.
Tanzania-India Trade & Investments
By 2022, trade volumes between India and Tanzania had surged to USD 3.1 billion, positioning India as Tanzania’s third-largest trade ally.
India’s investments in Tanzania also saw a significant uptick, touching USD 3.65 billion in 2022.
