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.

TANZANIA BUSINESS & INVESTMENT GUIDE 2026

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.

Related Posts
East Africa Nordic Investment Summit Tanzania
Read More

Dar Es Salaam Hosted East Africa Nordic Investment Summit To Advance Digital Transformation And SEZ Investments

Dar es Salaam hosted the East Africa Nordic Investment Summit on 25–26 February 2026, bringing together government leaders, Nordic partners, investors and entrepreneurs to align digital systems, capital structuring and policy frameworks. The summit focused on digital transformation, Special Economic Zones incentives and the launch of the Tanzania Youth Agri-Export Hub targeting exports to the UK market.
Tanzania Quarterly GDP Growth 2021-2025
Read More

Tanzania Economic Performance in 2025 Records 6.4% GDP Growth in Q3, 3.6% Inflation, 23.5% Credit Growth, 37.4% Gold Export Rise, and 2.29 Million Tourists

Tanzania’s economic performance in 2025 recorded real GDP growth of 6.4% in Q3, stable inflation at 3.6%, and strong private sector credit expansion of 23.5%, while lending rates moderated to 15.24%. Exports of goods and services rose by 10.2%, led by gold exports increasing 37.4% to about USD 4.7 billion, while international tourist arrivals reached 2.29 million.
AFRICA EAST TANZANIA REAL GDP GROWTH RATE 2025-2026-2027 UNCTAD
Read More

UNCTAD Forecasts 5.8% GDP Growth for Tanzania in 2026 as Inflation Declines to 2.8% Despite Global Slowdown

UNCTAD’s World Economic Situation and Prospects 2026 projects GDP growth at 5.8% in 2026 and 5.3% in 2027, supported by robust domestic demand, improved macroeconomic stability, IMF-backed reforms, strong agricultural output, and favourable gold prices, while inflation is projected to decline to 2.8%. This contrasts with a global growth outlook of 2.7% in 2026 amid trade tensions, fiscal pressures, and subdued investment.