In a bid to create a favourable business environment between Tanzania and China, the Prime Minister, Mr Mizengo Pinda, has said there is an urgent need to address the trade imbalance between the two nations.
Prime Minister Mizengo Pinda
Mr Pinda regretted that Tanzania only exports raw materials but imports finished goods from China. “This is not a healthy business environment for mutual development,” he noted.
The prime minister made the remarks in Dar es Salaam during the official opening of the second ‘Brands of China African Showcase 2013’ exhibition at the Diamond Jubilee Hall. The trade show runs from 10th to 13th September and is coloured by 192 exhibitors from 12 provinces and municipalities in China.
“This is a unique opportunity to address the current trade imbalance between the two countries and focus on a win-win situation. Our goal should be to establish facilities for value-addition factories, targeting local and regional markets, estimated at 750 million people,” he noted.
He said that the exhibition was an important platform for the Chinese government to address the ‘chronic problem’ of counterfeit and fake products, to regain the confidence of consumers.
The Deputy Director General of the Department of Foreign Trade, Ministry of Commerce in China, Mr Zhang Xialing, said the Chinese government has implored companies to own their products, adding that this was a vital strategy in curbing infiltration of fake and counterfeit goods into the market.
“The exhibition is bringing together original manufacturers of Chinese products. Tanzanian consumers can see for themselves the genuineness of our goods,” he said.
The Minister for Industry and Trade, Dr Abdallah Kigoda challenged the local business community to explore opportunities in the exhibition as a way of adding value to locally made goods to boost exports.
The forum will enable the business community to learn, share experiences and exchange information about Tanzania’s numerous business and investment opportunities. The volume of trade between Tanzania and China has been growing steadily, increasing from 688.6m/- in 2007 to 2.66bn/- today, equivalent to 74 per cent.
The period under review also witnessed China being ranked third Tanzania’s major trading partner, registering 7.1 per cent trade volume of total trade. The event taking place in the city exhibits for categories of products including machinery and vehicles, home appliances, electronic communications, solar energy and related products, consumer goods, building material, chemical, medical and comprehensive products.
The Chinese Ambassador to Tanzania, Mr L. V. Youqing, said the exhibition shows the importance of Tanzania to his country, adding that as of June, this year, China Investment in Tanzania valued 2.17 billion US dollars (about 3.47tri/-).
“In the year 2012, China was the second largest investor in Tanzania, a sign of fast growing bilateral trade between the two nations,” he noted. The Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA) president, Mr Peter Chisawillo, said the interactions will enhance exchange of knowledge among business people of the two nations.
Source Tanzania Daily News
