On 8th November 2022, 361 Degrees Africa hosted the Zimbabwe-Tanzania Trade & Investment Forum in Dar es Salaam.
The event saw the participation of the Zimbabwe national Trade Development and Promotion Organization (ZIMTRADE), the Tanzania Trade Development Authority (TANTRADE), the Tanzania Private Sector Foundation (TPSF), the Confederation of Tanzania Industries (CTI), the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), and the Tanzania Women Chamber of Commerce (TWCC).
The first day of the forum included presentations about trade statistics and opportunities between Zimbabwe and Tanzania, a roundtable with stakeholders from both countries, and business-to-business (B2B) meetings and networking sessions.
The representative from the Zambian embassy in Tanzania explained that Tanzania exported goods for a total value of USD 14.8 million to Zimbabwe in 2021, while it imported goods for a total value of USD 9.9 million.
This is very low and there is still room for vast improvement, with numerous investment opportunities, particularly in the mining, agriculture, manufacturing, and tourism sectors among others.
She also stressed that Zimbabwe is open for business and that the government is making frantic efforts to liberalize investment laws. For instance, the government has scrapped the traditional bureaucratic company registration procedure which now takes approximately one week and can be done online.
The government of Zimbabwe has also embarked on a robust road network refurbishment, as well as upgrading airports and border entry points.
For his part, Christopher Mramba of the Ministry of Investment, Industry, and Trade of Tanzania stressed that given the recent Covid-19 pandemic and the ongoing war in Ukraine, intra-Africa trade is something that will provide long-term and sustainable economic solutions.
“Cross-border trade facilitation should be the aim of all of us and especially those of us in the regulatory authorities,” he said. “The President of Tanzania has done quite a lot to ensure that businesses operate in a very enabling environment. And we are implementing the blueprint for improvement of the business environment in Tanzania,” he concluded.