Tanzania is poised for more investments from South Africa in its export processing zones as the two countries seek to strengthen bilateral business and investment cooperation.
South Africa’s Deputy Minister, Trade and Industry, Ms Elizabeth Thabethe
A visiting South Africa’s Deputy Minister, Trade and Industry, Ms Elizabeth Thabethe said in Dar es Salaam on Thursday that they would help to look for investors in the country’s export processing zones in areas of agriculture products value addition, mineral processing and light assembling among others.
Ms Thabethe led a delegation comprising of senior government officials which visited Tanzania’s Export Processing Zone Authority (EPZA) on Thursday.
Her delegation met EPZA senior officials and had an opportunity to learn about the authority through presentation, discussions and a tour to industries working at the authority’s compound.
She said they had agreed to form working groups in each country which will be tasked to strengthen authorities mandated to coordinate export processing zones.
In Tanzania, EPZA coordinates and promote investments in the country’s special economic zones and export processing zones created for investments in processing and manufacturing activities for export purposes.
EPZA Director General, Dr Adelhelm Meru said South Africa is an advanced economy in the continent and that Tanzania would benefit from her experience in operating export processing zones.
“We have agreed to form working groups in each country so that we can strengthen our cooperation and learn from each other in this area investment in our EPZs,” Dr Meru said.
The DG noted that South Africa has agreed to help Tanzania looking for investors who will come to invest in EPZA areas of agriculture products value addition, mineral processing, and light assembling among others.
On her part, Ms Thabethe said South Africa and Tanzania has come a long way and should strengthen cooperation between them for the welfare of people of both countries.
“It is through economic cooperation between African countries that our continent will attain sustainable development,” the Minister said, adding that intra Africa trade was a way forward for the continent.
She added that South Africa has a lot to learn from Tanzania and that her country was more than ready to strengthen the existing investment and business linkages with Tanzania.
The Tanzania High Commissioner to South Africa, Ms Radhia Msuya who was present at the meeting urged EPZA to work together with a similar Southern African country’s entity for the best results and mutual benefits of both countries.
“There is a lot in our continent that we can work on for the mutual benefit of our countries,” she said.
By forging closer relations with South Africa, it is likely that EPZA will strengthen its already promising trend.
Statistics shows that the authority had a target to get USD 300 million investment capital in 2013, but surpassed target and bring in the country a capital totalling USD 498 million up to December last year.
According to available information the authority had planned to create 5,200 new employments last year and end up doubling the target by creating 10,200 new employments through new investments that took place in the authority’s areas.
EPZA had earlier targeted to export products worth USD 100 million last year but surpassed targets as well and exported products worth USD 105 million.
