SA-Tanzania urged to expand trade and investment

Friday, August 16, 2019

Tanzania and South Africa should continue to work together by expanding trade and investment for the mutual benefit of citizens of both countries, says President Cyril Ramaphosa.

“We must continue working together to enhance and strengthen our already excellent bilateral relations. We should do so by expanding trade and investment with the goal of achieving decent livelihoods for our people,” said President Ramaphosa on Thursday.

Delivering toast remarks at a State Banquet in Dar es Salaam, Tanzania, the President said the Bi-National Commission of Cooperation which has been in place since 2017, has elevated the two countries’ engagements to Presidential level.

“This bilateral mechanism has allowed our cooperation to grow significantly and will be utilised as a tool to continue expanding the scope of cooperation. We currently enjoy multi-faceted cooperation in many fields and there is rapid growth in people-to-people relations,” said the President, who was in Tanzania on his first State Visit since becoming President in May.
He highlighted that South Africa and the East African country’s economic cooperation continues to be strong. 
“Considering the number of agreements and memoranda of understanding that have been signed and those that are yet to be finalised, it is clear that our economic cooperation is set for further growth.”
Tanzania is among the top trading partners of South Africa in the region and significantly one of the fastest growing economies on the African continent.
Earlier in the day President Ramaphosa and his counterpart John Pombe Magufuli officiated a Business Forum that is aimed at forging collaboration to ensure market access into our respective economies.
“Our support for the private sector at this level is necessary to ensure the protection of investments and ease of doing business in our respective countries,” he said.
Closely linked to the promotion of investment is the achievement of political stability in our region.