GENERICO.ruEconomicsThe Ambassador spoke about trade and economic cooperation between Russia and Tanzania

The Ambassador spoke about trade and economic cooperation between Russia and Tanzania

St. PETERSBURG, February 12 Tanzania is interested in expanding trade and economic cooperation with Russia, including in the processing of agricultural products, in the mining industry, IT, and tourism, Tanzanian Ambassador to the Russian Federation Fredrick Ibrahim Kibuta told reporters.
“As for trade turnover, last year it fell slightly due to the fact that SWIFT was disabled in Russia. But it did not fall much, because businessmen began to look for alternative ways to transfer money… So trade is being restored turnover and I hope it will continue to grow,” he said.

According to him, promising areas for the development of cooperation are agricultural processing, mining, tourism, energy, and the IT sector. “These are fertilizers, as well as processing in agriculture, especially technologies for drying agricultural products…. Mining sector, oil and gas,” the ambassador noted.

He also said that currently there are not many Russian investors in Tanzania, but there are already implemented projects – in the manufacturing sector, tourism, telecommunications, and agriculture.
“As for the investment climate, it is more than favorable. We are creating all the conditions to motivate Russian investors to come to Tanzania. We have created a special organization – an investment center, which is a one-stop shop where we are ready to help investors from Russia” , – said the Ambassador of Tanzania to the Russian Federation.
On Monday, a conference on the topic “Russia-Tanzania: opportunities for mutually beneficial cooperation” was held at the St. Petersburg Chamber of Commerce and Industry, where the ambassador spoke about areas of doing business and opportunities for investment, trade and finance in Tanzania.
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