Business and Finance
Tanzania: Ministry Asks Traders to Look Outside
THE Ministry of Industry and Trade has urged members of Tanzania’s business community to look for markets in East Africa and beyond instead of relying on the domestic market.
The ministry’s information officer, Mr Nicodemus Mushi, said the turnout of local entrepreneurs was highly impressive but there was need to look for external markets.
He said entrepreneurs were strengthening their production processes to take advantage of market slots for Tanzanian products in the region, Middle East and Europe.
He said the ministry’s focus was currently on trade that goes beyond the country’s borders and that local entrepreneurs have been able to use the DITF as the launching grounds to markets across the border.
“Those who have got deals will perhaps be able to get orders which will take them outside the country,” he said.He said the government seeks to profile fresh market opportunities across borders to expand the country’s export trade.
He said they were boosting the country’s external trade and undertaking market research studies with the aim of establishing business opportunities and potential distribution channels for Tanzanian products.
He said that it was important to consolidate trade with the rest of the region and huge importers of goods the country has competitive advantage.
Tanzania Trade Development Authority (TanTrade) said there were 435 foreign companies, 1,500 local firms and 64 government institutions taking part in the 36th Dar es Salaam International Trade Fair (DITF).
The exibitors also include the Parliament, University of Dar es Salaam, Muhimbili University of Allied Sciences, Vocational Education Training Authority and Ministry of Natural Resources and Tourism.
Others are Ministry of Water and Irrigation, National Development Corporation, Tanzania Telecommunications Company Limited (TTCL), Mohammed Enterprises Limited, banks and pension funds.
Commonly known as Saba Saba, DITF is an international trade fair organised and held in Tanzania and regulated according to the international trade standards set by the Global Association of the Exhibition Industry and the organiser sets the Terms of Participation applicable during the fair.
During the past 36 years, DITF has been a leading trade fair and most significant trade marketing activity for Tanzania, East, Southern Africa and the world at large, where countries, international companies, government ministries and departments, local companies and Small and Medium Enterprises have been increasing.