The East Africa Commercial and Logistics Center Limited to open next year
Dar es Salaam. The East Africa Commercial and Logistics Center Limited is expected to open to the public in June 2024.
This was said by Director General, Cathy Wang during the 47th International Trade Fair that is being held at the Mwalimu Julius Nyerere Grounds.
According to her, to facilitate and add vitality to the 2024 trade fair, it will be devoted to contributing Chinese experience to the industrialization of Tanzania, promoting sustainable development, expanding opportunities, and addressing related challenges for both China and Tanzania.
"The national foreign investment strategy of China is trade first, investment follows and according to the international experience, the success of an investment is inseparable from the expansion of the market, investment, and development need to be combined with the front-end market, and gradually extend to local manufacturing through market sales. Export trade plays a leading role in manufacturing investment projects through trade expansion channels," she said.
She said it is made possible, in part, by their unwavering commitment to facilitating Chinese Enterprises to enter Africa, to providing platform service to explore the Tanzania market, to introducing Tanzania products to China, to playing an active role in enhancing the economic and trade exchanges and cooperation, and to adding value by establishing processing industry, to contributing to the industrialization of Tanzania.
She said the East Africa Commercial and Logistics Center is a reflection of that commitment.
Noting that construction of factories can be started when the market is relevantly mature.
On her part, Chinese Ambassador to Tanzania, Chen Mingjian said the Department of Commerce of Shandong Province signed strategic cooperation memorandums with the Ministry of Investment, Industry and Trade of Tanzania, and TCCIA respectively, to strengthen in-depth exchanges and cooperation between the two sides in trade promotion, two-way investment, exhibition hosting, and other aspects. In 2022,
"The import and export volume between Shandong Province and Tanzania reached 7.92 billion RMB, a year-on-year increase of 42.4 percent," she said.
From January to May this year, the import and export between Shandong Province and Tanzania reached 2.78 billion yuan, an increase of 10.7 percent, which is 8.6 percentage points higher than the average increase in import and export in Shandong Province.
Meanwhile, the Deputy Minister of Investment, Industry, and Trade Exaud Kigahesaid said a total of 266 international companies are participating in the 47th International Trade Fair.
He said it is an opportunity for Tanzanians to build networks with Chinese companies and do business with them.
"We should have a close network with them to learn new technologies," he said.
He noted that the Chinese can open their companies here and produce products here in the country instead of having to travel to China.
According to him, Tanzania should be the key to East Africa and Central for Tanzania's economy to grow.
