Kabudi urges support for local gemstone investors to enhance Tanzania's global profile

Dar es Salaam. The government has underscored the importance of supporting local investors in Tanzania's gemstone mining and trade sector, with a view to enhancing the intrinsic value of these resources and elevating the country's profile on the global stage. 

A statement issued in Dar es Salaam on Monday, September 23 said the minister for Constitution and Legal Affairs, Prof Palamagamba Kabudi, made this assertion during his recent visit to Bangkok, Thailand, where he attended the 62nd Annual Session of the Asian-African Legal Consultative Organisation (AALCO) and the 70th Bangkok Gems and Jewellery Fair at the Queen Sirikit National Convention Centre.

While at the fair, he visited Tanzania’s booth, which prominently showcased ruby gemstones.

Prof Kabudi emphasised the need for government support and resource allocation for indigenous investors engaged in the mining and sale of gemstones.

He noted that such initiatives are vital for promoting Tanzania internationally and increasing participation in future exhibitions.

"I encourage greater participation from Tanzanians in upcoming events and call upon gemstone producers to ensure that Tanzania becomes a leader in the global market," the statement quotes him as saying.

During the exhibition, some Tanzanian participants expressed concerns about existing regulations in the mining and investment sectors, indicating that certain laws fail to adequately address issues concerning precious metals.

Their feedback highlighted a desire for regulatory reform to better support the local industry.

While delivering a speech at the AALCO session, Prof Kabudi extended gratitude to the government of Thailand for its warm hospitality and congratulated Burkina Faso for its recent membership in the organisation, encouraging other African nations to join as well.

He acknowledged AALCO's crucial role in fostering mutual understanding on various legal issues and in promoting sustainable development across the region.

Tanzania remains committed to the principles of AALCO, pledging ongoing support for the organisation's legal framework and cooperation initiatives.

"In the spirit of collaboration, Tanzania looks forward to working with fellow member states on initiatives that address our shared challenges, particularly in promoting legal cooperation to tackle global issues, including climate change," he remarked.

The session focused on advancing the development of international law, particularly on crucial topics such as climate change, law of the sea, and cyberspace.

Emphasis was placed on promoting Asian and African leadership in strengthening international law Adoption of Krungthep Declaration.

The declaration emphasises cooperation in addressing global challenges, ensuring representation of Asian and African countries in international legal bodies, engaging with youth on emerging international legal issues, and encouraging more states to participate in AALCO.