SA, Tanzania boost trade relations

Sunday, July 17, 2011

Pretoria - Enhancing cooperation in the fields of mining, trade, energy and agriculture will form the basis of talks between President Jacob Zuma and his Tanzanian counterpart, Jakaya Kikwete.

Consolidating the African Agenda and enhanced cooperation in dealing with multilateral issues, such as reform of institutions of global governance will also be up for discussion.

Zuma and his counterpart will use the occasion to talk about issues of cooperation at a regional level, especially within SADC, and other matters affecting the continent.

South Africa and Tanzania have strong economy links, with SA being the third largest exporter to Tanzania, with a market share of 9.63 percent.

However, the trade balance between the two countries shows South Africa's exports to Tanzania went from R3.5 billion in 2009 to R3.1 billion in 2010.

On the other hand, the picture shows imports from Tanzania growing by almost 100 percent from R236 million in 2009 to R464 million in 2010.

South African exports to Tanzania consists predominantly of manufactured goods like machinery, mechanical appliances, paper, rubber products, vehicles, iron, steel, services and technology. Imports from Tanzania are mainly gold, coffee, cashew nuts and cotton.

Kikwete, who will be in South Africa from 18 - 20 July, will be with a business delegation which seeks to further explore investment and trade opportunities between the two sister countries.

The Ministers of International Relations and Cooperation, Agriculture, Forestry and Fisheries, Arts and Culture, Transport, Science and Technology, Energy, Finance, Mineral Resources, Water and Environmental Affairs, and Trade and Industry will be part of the talks.

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