According to Mark Simmonds, the UK visiting minister for Africa, the UK government intends to maintain its current position as the largest Tanzania foreign direct investor….
The UK maintains bilateral relations with Tanzania in many areas, particularly trade and security.
Tanzania UK Trade
The total trade between the two countries increased from GBP139.8m in 2010 to GBP143.4m in 2015, representing an increase of 3%.
During the same period, exports from Tanzania to the UK increased from GBP21.6m to GBP23.1m, while imports from the UK to Tanzania increased from GBP118.2m to GBP120.3m.
Tanzanian exports to the UK are dominated by tea, tobacco and precious stones, while UK exports to Tanzania are mainly dominated by automobiles and electronic appliances.
UK Investments in Tanzania
The UK is the largest supplier of foreign direct investment (FDI) to Tanzania with 36% market share, followed by the US and China.
British investments in Tanzania are spread out across multiple sectors, such as mining, manufacturing and agriculture.
At the end of 2015, the governments of the UK and Tanzania signed a Memorandum of Understanding (MoU) on social development representing a total investment of GBP110m.
The funds will be provided through the British Department for International Development (DFID) over the next 5 years.
Tanzania ranks fifth in the top five countries receiving UK’s aid through the DFID with 48 active projects totaling GBP178m, while Pakistan tops the list with 32 active projects totaling GBP368m.
UK Tourist Arrivals to Tanzania
The UK was the second largest source of international visitors to Tanzania from overseas countries in 2014 with 60,034 arrivals.
British Airways used to operate direct flights between London and Dar es Salaam. However, flights to Tanzania, Zambia and Zimbabwe were suspended in 2013 due to lack of profitability for the airline on the route.
During the UK-Tanzania Trade & Investment Summit 2014 that took place in London on 31st March, 2014 a number of CEO’s of UK companies currently…
UK-Tanzania Investment Forum and Tanzania President Jakaya Kikwete visit to Great Britain on March 31st 2014 have ended on a positive note with reassurances of…
An oil and gas industry delegation from the United Kingdom visited Tanzania from the 10th – 11th February 2014 to explore the growing investment opportunities…
AFREN, a UK based oil company is preparing to start exploring for oil and gas in the Tanga Block, Tanzania. The exploration is due to…
The UK’s Department for International Development (DFID) announced plans to invest in four agricultural projects in Tanzania totaling GBP 20 million. Justine Greening, the UK’s…
With the recent hype discovery of natural gas in Tanzania, British companies are considering trade partnerships with local Tanzanian firms following opportunities that have opened…