TPSF at the forefront of Tanzanian – Turkish Economic Cooperation

IMG-20170111-WA0048Ankara, Turkey – The Tanzania Private sector Foundation (TPSF) has been elected to Co-chair the Turkey-Tanzania Business council. This is yet another platform for TPSF and the private sector in the country to create business and investment opportunities for both local businesses and foreign investors. The current TPSF Chairman  Dr. Reginald Mengi is expected to act in this capacity along with his Turkish counterpart. This was agreed upon during the Turkish-Tanzanian meeting between the Turkish and Tanzania Delegation in Turkey earlier this week during the sitting of the 2nd session of the Turkey Tanzania Commercial Committee.

The two day meeting attended by government officials from the Ministry of Industry Trade and Investment  including included Minister Hon. Charles Mwijage (MP) and the permanent secretary from the Ministry Professor Adolf Mkenda. Other officials forming the delegation included representatives from the President’s Office, Director for Policy Lobbying Director of Policy Advocacy, Research and Lobbying Mr. Gilead Teri from TPSF and other government ministries and agencies such as TBS, TRA, TAA, ATCL but to mention some.

The Business council was able to reach an agreement  on more than 20 key areas from the agricultural sector to proper tax collection on economic cooperation. The meeting between the two nations was also able to design and agree upon a well chartered road map for further cooperation between the two countries.

The meeting laid the foundation ahead of the expected visit  from the Turkish President towards  the end of January.  Mr. Recep Tayyip Erdoğan is expected to meet with his Tanzanian counterpart  President Dr. John Pombe Magufuli and sign an MOU between the two countries on further economic cooperation. The Private Sector Foundation (TPSF) and the Foreign Economic Relations Board of Turkey (DEİK) have been tasked with the preparation of the agreement ahead of the meeting between the two heads of states. This is one of the many roles that TPSF will be undertaking moving forward.

Turkey and Tanzania for some time have both enjoyed and benefited from excellent bilateral relations between their nations. Following the reopening of the Turkish consulate in Tanzania in 2009, one of the very few in the world at the time, economic relations especially trade between the two countries has grown. Trade volume between the two countries has almost tripled since 2009. In 2009 trade volume stood at $66 million (Sh145.2 billion), today it is around $160 million (Sh352 billion).

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