On 6th October 2022, the President of Tanzania Hon. Samia Suluhu Hassan witnessed the signing of a memorandum of understanding (MOU) between the Chambers of Commerce of Tanzania, Zanzibar, and Qatar in Doha.
The purpose of the agreement is to strengthen trade and investment between Tanzanian and Qatari businessmen, especially in oil and gas, infrastructure, agriculture, livestock, real estate, tourism, and industry.
The contract was signed by the President of the Tanzania Chamber of Commerce, Industry, and Agriculture (TCCIA), Paul Koyi, and by the Chairman of the Zanzibar National Chamber of Commerce (ZNCC), Ali Suleiman Amour.
On the Qatari side, the agreement was signed by the Vice Chairman of the Chamber of Commerce, Muhammed bin Ahmed Al Kuwari.
Speaking at the signing ceremony, President Samia stressed that Tanzania enjoys an attractive investment climate and that the government is making great efforts to develop the legislation, offer more incentives, and provide tax facilitation and exemptions to attract investments.
For his part, Mohamed bin Twar Al-Kuwary said that Tanzania is one of the most important African countries that offer a host of giant investment opportunities, indicating that Qatari investors are interested to learn about these opportunities, especially in light of the economic diversification policy adopted by Qatar.
He expressed his appreciation to President Samia for her interest in meeting with Qatari businessmen and investors, stressing that this reflects Tanzania’s constant keenness to strengthen its relations with Qatar and encourage Qatari investment in vital sectors.
And he noted that despite the impact of the Covid-19 pandemic, the total bilateral trade volume between the two countries rose by 66% from QR 169 million in 2020 to QR 282 million in 2021.