China, Tanzania trade volumes hit the $4.6 billion mark in value

Dar es Salaam. Trade volume between Tanzania and China has reached $4.6 billion (about Sh10.3 trillion) per year as the two countries foster their relations to grow it even further.

The chief commercial representative at the Chinese Embassy in Dar es Salaam, Lin Zhiyong said in Dar es Salaam yesterday that the volume is largely in favour of the Asian nation and that the two countries were doing everything possible to ensure that the trend gets balanced.

To achieve the goal, the Chinese Embassy in Tanzania is attracting investors from China so they can set up factories in the East African nation.

“We will continue to invite our investors to come and invest in Tanzania,” he told participants to a one-day workshop that was organized by the Association of Tanzania Employers (Ate) in cooperation with the Chinese business community.

The workshop highlighted on the importance of the Chinese businesspeople to understand laws, business environment as well as procedures for acquiring working and residence permits as a way of improving their working relations with the Government of Tanzania and its agencies.

The Ate executive director, Dr Aggrey Mlimuka said the workshop shed a lot of light with regard to improving cooperation and relations between Chinese investors/business community on one side and government agencies such as the labour office, the immigration department and other relevant stakeholders.

The chairman of Chinese Business Chamber of Tanzania, Mr Janson Huang, hailed the fifth phase administration for its efforts in reducing red tape in processing various requirements for foreign investors.