Browsing Tag

EU

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EU-Tanzania Trade Balance 2011Tanzania & EU

Historically, the European Union (EU) and Tanzania have enjoyed a robust economic relationship based upon steadily growing investment and trade, and strong diplomatic ties.

Cooperation is a fundamental pillar of EU-Tanzania relations. EU-Tanzania cooperation has three main objectives: to reduce poverty, promote sustainable development and support integration of the country into the world economy.

Investment & Trade

The EU is a major trade and investment partner for Tanzania.

In 2020, the EU was the fourth most prominent destination of Tanzania’s exports  and  Investors from the EU contribute significantly to the Tanzanian economy:

Foreign Direct Investment from companies of the ten most active  EU Member States into Tanzania was USD 1.5 billion between 2013 and 2020.

EU-TanzaniavFDI Inflow 2020

In 2021, total trade between Tanzania and the EU reached EUR 1.3 billion, of which EUR 457 million imports from Tanzania and EUR 856 exports to Tanzania.

EU Trade With Tanzania 2011 - 2021

The EU and the EAC Partner States concluded the negotiations of an Economic Partnership Agreement (EPA) in 2014, but the agreement never entered into force because some EAC Partner States, including Tanzania, did not sign it.

The EPA provides for immediate trade liberalization of EAC exports to the EU and for a gradual liberalization of EAC imports from the EU during a variable duration of time up to a maximum of 25 years depending on the sensitivity of the products.

The agreement also provides for cooperation on trade, customs, sanitary and phytosanitary measures and rules of origin.

In the absence of EPA, the individual EAC Partner States maintain their bilateral trade arrangements with the EU.

EU Support To Tanzania

On 18th February 2022, the President of the European Commission (EC) Hon. Ursula Von der Leyen met with Tanzania’s President Hon. Samia Suluhu Hassan on her visit to Belgium.

After the meeting, Von der Leyen has announced the EC’s support to Tanzania with EUR 425 million to fund various development projects in the country over the next three years.

The funding corresponds to TZS 1.15 trillion and some areas of investment have already being confirmed. .

Last Updated: 27th October 2022

Minister Nchemba of Tanzania with Kofler of Germany

Germany Commits EUR 87 M to Tanzania

Germany committed EUR 87 Million (TZS 210 billion) to support Tanzania‘s health sector, water sector, tourism sector, empowerment…