The Tanzania Private Sector Foundation (TPSF) the umbrella body for the Private Sector in collaboration with Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA) together with the Turkish Exporters Assembly and Turkish Embassy in Tanzania, on 27th July 2017 hosted a business forum between Turkish and Tanzanian companies.
The Turkish business delegation comprised of more than 25 businesses ranging from Agriculture, textile, medical, construction right through electrical informatics sub-sectors. The delegation had the opportunity to showcase their products and services to their Tanzanian counterparts as potential partners, who were in attendance at the business forum. The objective of the forum was to foster economic and business relations between Turkey and Tanzania as well as exchange business experiences between the two countries. The forum provided avenues for business to network and business match-making between Turkish and the Tanzanian companies.
Speaking at the opening of the forum, Mr. Louis Accaro Director of Membership Services at TPSF on behalf of the institution’s Executive Director in his speech pointed out that TPSF continues to support private sector driven initiatives aimed at realizing a more conducive business environment and investment climate in the country, ultimately leading to socio-economic growth. On the Turkish side the Economic Councilor (Turkish Embassy) Mr. Onur Tekyildiz recognized TPSF’s continued support, ” TPSF became a great strategic partner for us to connect with business circles in Tanzania” he acknowledged as well at the opening of the forum.
Economic and trade relations between Tanzania and Turkey are on the rise, supporting statistics show trade volume from Q1 (Jan-Apr) 2016 & Q1 (Jan-Apr) 2017 show a 13% increase in trade between the two countries. The boost in trade in the first quarter of 2017 was mainly in part a result of the official 2-day state visit from Turkish President Recep Tayyip Erdogan in January 2017. The Turkish President led a business delegation which met their counterparts led by H.E Dr. John Pombe Magufuli President of U.R.T. A significant result of bilateral talks between the two heads of state was the awarding of a Turkey company a $1.1bn deal to construct a portion of the upcoming Standard Gauge Railway (SGR).
The Tanzania Private Sector Foundation (TPSF) in its part was also elected to Co-chair the Turkey-Tanzania Business council early this year on bilateral economic and trade relations, this followed after the signing of MoU between Foreign Economic Relations Board of Turkey (DEİK) and the Tanzania Private Sector Foundation TPSF. TPSF continues to be at the forefront of strengthening economic and trade ties availing opportunities for the private sector.