Tanzania-Turkey trade surges by 400 percent in ten years, President Samia reveals
President Samia Suluhu Hassan addresses guests, leaders, and students of Ankara University, Turkey, shortly after being awarded an Honorary Doctorate Degree in Economics. PHOTO | STATE HOUSE
What you need to know:
- The two countries are expected to sign eight cooperation agreements
Dar es Salaam. Bilateral trade between Tanzania and Turkey has surged by 400 percent over the past decade, according to President Samia Suluhu Hassan.
Speaking during a ceremony held on April 18, 2024, where she was honored with an Honorary Doctorate from Ankara University, Turkey's second-largest university, President Hassan said the volume of trade between the two countries has surged from $60 million in the 2011/2012 fiscal year to $300 million by 2022/2023.
"As a member of the G20, we look to Turkey's support for Africa's concerns, including prioritizing debt challenges, reforms of the global financial architecture, and ensuring sustainable development finance to address inequality and injustice," she stated.
The Group of Twenty (G20) comprises 19 countries and two regional bodies, representing a substantial portion of the world's GDP, trade, and population.
President Hassan emphasized Tanzania's commitment to attracting reputable partners for transformative infrastructure projects. She cited the involvement of Turkish company Yapi Merkezi in Tanzania's Standard Gauge Railway project as a testament to this commitment.
"Up to December 2023, we had registered 526 new large investment projects valued at over $5.6 billion, indicating continued confidence in Tanzania's growth trajectory," President Hassan added.
Earlier on April 17, 2024, Foreign Affairs Minister January Makamba announced President Hassan's impending receipt of the Honorary Doctorate. This recognition acknowledges her exceptional leadership in advancing social, political, and economic reforms in Tanzania.
Upon receiving the award from Ankara University Principal Prof. Necdet Unuvar, President Hassan expressed gratitude to the people of Tanzania. She stated, "I am only their leader and doing all that I do on their behalf. As I reflect on the uphill challenges I encountered and the resilience of my people, I am exceedingly humbled to accept this Honorary Doctorate."
President Hassan, accompanied by a delegation from the business community and media, is currently in Turkey for a state visit that commenced on April 17th and will conclude on April 21st, 2024.
The two countries are expected to sign eight cooperation agreements, as revealed by Minister Makamba.
