- Dar es Salaam hosts Egypt-Tanzania Business Conference.
- Trade mission comes in wake of Tanzania-Ethiopia energy pact.
- Trade mission organized by the Egyptian Export Council for Chemical Industries and Fertilizers.
In March, Egypt sent powerful business delegation to Tanzania for the inaugural Egypt-Tanzania Business Conference which was held in Dar es Salaam. Ambassador Sherif Ismail, Ambassador of the Arab Republic to Tanzania, inaugurated the event which he termed marked the beginning of a high ranking Egyptian trade mission to the East African country.
“The event was organized by the Egyptian Export Council for Chemical Industries and Fertilizers in collaboration with the Export Council for Building Materials, Refractories, and Metallurgical Commodities, and coordinated by the Egyptian Commercial Service (ECS),” the press release issued at the event detailed.
In his opening remarks, Ambassador Sherif Ismail cited “strategic importance of the forum in deepening economic and trade relations between Egypt and Tanzania.” Additionally, the official highlighted complementary resources and economic potential of both nations, stating, “If we’ll utilized, our complimentary resources can contribute to sustainable development of both countries and the region at large.”
He reaffirmed his country’s commitment to fostering investment and trade by creating a conducive business environment and strengthening cooperation between the public and private sectors.
Sharing his view at the forum, Mr. Mohamed Attaya, Head of the Egyptian Commercial Office in Tanzania singled out the importance of collaboration across all sectors between the two nations, underscoring the fact that there are at least 23 Egyptian companies operating in the East African nation currently.
He said these companies are spread across 10 different key sectors, including chemicals, fertilizers, agriculture, and manufacturing. The trade mission has visited various local markets, such as the famous Kariakoo market in Dar es Salaam where “they already see potential for collaboration.”
“The potential is unlimited, but the main opportunity lies in the agricultural sector,” Mr. Attaya revealed. He was keen to point out the fact that Tanzania is not part of the Common Market for Eastern and Southern Africa (COMESA). And for this reason, he said, there is an underlining major challenge in bilateral trade caused by the absence of a free trade agreement between the two countries.
However, a fresh effort is underway to facilitate a free trade agreement between the two countries under the African Continental Free Trade Agreement (AfCFTA).
Representing Tanzana, Dr. Latifa Khamis, Director General of TANTRADE, said the forum offers a significant opportunity for Tanzanian businesses to form strategic partnerships with their counterparts. “North Africa has advanced significantly in agriculture, and Tanzania provides a favorable environment for investment,” she said.
“We have already engaged in discussions with Egyptian firms, and I encourage local businesses to seize these opportunities,” Dr. Khamis urged.
She noted that the country was an outstanding international participant during the Sabasaba Trade Fair last year and the trade mission is a continuation of the same.
She highlighted key sectors of interest including the production of fertilizers, chemicals, and seeds. “These present lucrative investment prospects, for us in Tanzania,” she stated.
Her view was seconded by a representative from the Chemicals and Fertilizers Export Council, Mr. Mohamed Mageed reaffirmed their commitment to expanding trade relations with Tanzania in this sector. “Tanzania presents immense potential, and we are looking to expand our presence here,” he said.
“With over 100 fertilizer products, we are engaging with traders and relevant authorities to facilitate partnerships that will move beyond imports to technology transfer and local production,” Mr. Mageed detailed.
Speaking at the opening session, the moderator, Mr. Ahmed Abdel Fattah, Executive Director of the Export Council for Building Materials, Refractories, and Metallurgical Commodities, encouraged participants to maximize the opportunities presented by this event to strengthen mutual collaboration and unlock new avenues for investment and trade.
According to the press release, the conference is part of Cairo’s broader efforts to expand the presence of Egyptian exports and products in African markets.
The conference also helps to enhance economic and trade cooperation with African nations, fostering mutual interests, and promoting sustainable development in cooperation with TANTRADE in Tanzania under the guidance of the Egyptian Embassy.
The conference and trade mission are part of ongoing efforts by Cairo to boost economic diplomacy and foster long-term business engagements between the two countries.
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Will Tanzana-Ethiopia power pact affect Egypt’s diplomacy?
Notably, the business conference as well as arrival of the business delegation, comes on the heal of Tanzania announcing plans to purchase electricity from Ethiopia. The purchase of electricity from Ethiopia maybe an affordable power access solution for Tanzania but Egypt and Ethiopia are currently at loggerheads over the Grand Ethiopian Renaissance Dam (GERD).
The dam, the largest in Africa “has stoked intense nationalistic fervor in both nations,” comments the Washington Post. Due to be inaugurated in six months, the dam is set to double the country’s electricity generation and become Africa’s biggest dam.
However, Egypt’s fierce opposition of this megaproject is well known. They argue that it will reduce the flow of the Nile river and hence threaten its food production capacity and overall livelihood.
