Samia’s South Korea visit to bring Sh6.5 trillion to Tanzania
What you need to know:
- The visit signifies a significant step in strengthening Tanzania's relationship with South Korea, fostering economic cooperation, and promoting multiracial exchange
Dar es Salaam. President Samia Suluhu Hassan is embarking on an official and working visit to South Korea, where she is expected to witness the signing of seven major agreements, including one that will see Tanzania receive a $2.5 billion (about Sh6.5 trillion) soft loan from the Export and Import (Exim) Bank of Korea.
The money will be spent on financing several development projects during the five years from 2024 to 2028, according to the Foreign Affairs and East African Cooperation minister, Mr January Makamba.
Other agreements, Mr Makamba said during a news conference in Dar es Salaam yesterday, will aim at enhancing cooperation in aviation, the blue economy, strategic minerals, culture and arts, and agriculture.
The information on Mr Makamba’s official X (formerly Twitter) page also shows that the six-day visit, which starts on May 31, 2024, was in honour of the strong diplomatic and political ties between Tanzania and South Korea.
The visit, he said, was at the invitation of the President of the Republic of Korea, Yoon Suk Yeol.
“This highlights a strong bond and great growth potential between our countries,” he said.
During the visit, President Hassan will also receive an honorary doctorate in aviation management from Korea Aerospace University (KAU).
This will be done in honour of her transformative actions, policy interventions, and pragmatic leadership that have transformed the sector, including the development of airport infrastructure, investment in capacity building for systems, technical personnel, and supporting staff, and the expansion of fleets both for passengers and cargo planes, from one in 2015 to 14 now.
This will be President Hassan’s fifth honorary degree since she came to power on March 19, 2021.
President Hassan’s first honorary doctorate was awarded by the University of Dar es Salaam on November 30, 2022, in recognition of her contribution to building Tanzania’s economy and democracy, bridging the gender gap, and improving access to education.
The UDSM chancellor and retired president, Jakaya Kikwete, conferred the degree.
In October 2023, President Hassan bagged her second honorary doctorate from Jawaharlal Nehru University (JNU) of India, while in December last year, she was also conferred with an Honorary Doctorate in Tourism Management and Marketing by the State University of Zanzibar (SUZA), which honoured her contribution to promoting tourism and economic development in the country.
Last month (April 2024), Ankara University awarded President Hassan the degree honoris causa on the second day of her five-day state visit to Türkiye.
The doctorate was “in recognition of her exceptional leadership in advancing social, political, and economic reforms that have improved the welfare of Tanzanians, enhanced Tanzania’s reputation around the world, and developed commercial, economic and political relations between Tanzania and other countries, including Türkiye,” according to Foreign Affairs and East African Cooperation minister January Makamba.
And, according to Mr Makamba, between June 4 and 5, 2024, President Hassan will take part in the Korea-Africa Summit, which will bring together heads of state and government from Korea and Africa.
President Hassan is also scheduled to address the summit, participate, and deliver remarks in a panel on Strengthening Food and Mineral Security. Mr Makamba emphasised that this summit is important for opening up trade cooperation opportunities between African countries and Korea, which has selected seven priority nations to attend this event.
Economic diplomacy will be central to the visit, with H.E. @SuluhuSamia meeting leaders from top Korean companies to explore partnerships in energy, infrastructure, and film production, Mr Makamba wrote on X.
In addition to recognising South Korea’s advanced film industry, President Samia will engage with leaders in the Korean arts, music, and film sectors to promote cultural exchange, boost tourism, and establish film studios and a National Film Academy in Tanzania.
He elaborated that Tanzania and Korea have had 32 years of cooperation in education, health, and infrastructure, and following the leaders’ discussions, seven cooperation agreements will be signed.
When he addressed the Parliament on Tuesday, Mr Makamba detailed several issues, including the benefits of President Hassan’s 4R (reconciliation, reforms, resilience, and rebuilding) philosophy and how Tanzania was benefiting from her visits to several countries, as well as the existing cordial relations between the country and others and with multilateral institutions.
Requesting the parliament to endorse a total budget of Sh241.069 billion for his ministry on Tuesday, Mr Makamba said his ministry believes that a sincere marketing approach for the 4Rs will enable the international community to understand the important steps being taken by President Hassan’s administration in upholding democracy, human rights, good governance, and protecting national values, including peace, unity, and solidarity.
He said it was due to the candid implementation of foreign policy that Tanzania remains a respected country that enjoys cordial ties with all other countries worldwide.
As such, he said, the country has also been receiving various leaders from various countries and also those from multilateral agencies.
Combined with various trips by Tanzania’s leaders to various friendly countries and multilateral organisations, the country has managed to effectively market its investment opportunities. As a result, Tanzania attracted investment projects valued at $5.7 billion last year, Mr Makamba said.
“The relationship between our country and various nations has strengthened. Our country has gained new friends and fortified existing friendships with different countries. These achievements have been facilitated by the visits made by national leaders to various countries,” he said on Tuesday.
Between July 2023 and April 2024, Mr Makamba said, the Ministry of Foreign Affairs and East African Cooperation coordinated 31 visits of national leaders abroad.
“Additionally, the Ministry coordinated 12 working visits of the Minister of Foreign Affairs and East African Cooperation to various nations,” he said.
The visits, he said, have had enormous economic gains, including strengthening Tanzania’s relations with friendly nations and international organisations, which opens doors to increasing the financial benefits the country gains.
A total of 78 cooperation agreements and Memorandums of Understanding (MOUs) in various sectors have been signed during the period.
“We also managed to secure educational opportunities for Tanzanians; secure job opportunities for Tanzanians in various countries; gain market access for our farmers’ produce; secure funds for strategic projects, such as the Standard Gauge Railway (SGR) and Mangapwani Port in Zanzibar; and attract investments amounting to projects worth $5.7 billion in 2023,” he said.
