Tanzania Seeks to Expand Trade and Investment Opportunities with Sweden
In a strategic diplomatic meeting, Tanzania’s Ambassador to Sweden highlighted significant potential for bilateral economic cooperation and trade expansion between the two nations.
The ambassador emphasized Tanzania’s commitment to strengthening key economic sectors, including energy, education, health, research, manufacturing, environmental initiatives, and critical infrastructure projects like the Standard Gauge Railway.
Trade statistics reveal a promising economic landscape, with Swedish companies registering 101 investment projects valued at $313.04 million since 1997. These investments have generated approximately 3,877 jobs across diverse sectors including agriculture, construction, energy, and manufacturing.
Current trade dynamics show Tanzania exported goods worth 12.4 billion, featuring products like coffee, cut flower buds, fish fillet, unprocessed tobacco, and wooden ornaments. Conversely, Tanzania imports high-value Swedish goods including electronic equipment, machinery, pharmaceuticals, and industrial products.
Future trade strategies focus on expanding exports of tea, coffee, avocados, gemstones, and wood products. The ambassador also highlighted tourism potential, noting around 20,000 Swedish visitors annually and plans to support artisanal miners through equipment acquisitions.
The diplomatic discussions underscored a mutual commitment to strengthening economic ties, leveraging the 62-year history of diplomatic relations and exploring innovative collaboration opportunities across multiple sectors.
