By Charles Mkoka
The Annual Trade and Investment Dialogue 2024 brought together over 400 business leaders, policymakers, and development partners in a landmark effort to tackle challenges and pave the way for Tanzania's economic transformation. Co-hosted by the Tanzania Chamber of Commerce, Industry, and Agriculture (TCCIA) and TradeMark Africa (TMA), with funding from UK International Development, Ireland, and Norway, the event underscored Tanzania's ambitions to solidify its position as a regional trade powerhouse.
Hon. Biteko, speaking as the Guest of Honour, emphasized the necessity of robust collaboration between the private sector and government to unlock Tanzania's immense trade potential. “Our vision is to position Tanzania as a trade and investment hub by fostering industrialization and sustainable, inclusive growth,” he stated, calling for decisive actions to create an enabling environment for businesses.
The dialogue focused on addressing Tanzania’s export competitiveness and eliminating barriers that hinder the private sector’s growth. Key themes included empowering regional chambers, supporting local enterprises, and identifying strategies to position Tanzania as a dominant player in both regional and global markets.
Private sector contributions remain pivotal to Tanzania’s economy, accounting for 33% of GDP and over 80% of formal employment, according to the World Bank. However, TCCIA data reveals Tanzania’s East African export market share stands at just 14%, a figure highlighting untapped opportunities. The dialogue provided a platform for stakeholders to collaborate on solutions, explore new markets, and forge stronger networks to overcome trade inefficiencies.
TCCIA Executive Director Oscar Kissanga highlighted the critical role of such dialogues in driving sustainable growth. “This forum aligns strategies to unlock the potential of Tanzanian businesses, boost export competitiveness, and empower regional chambers to address localized challenges,” he said. “The outcomes of this dialogue will strengthen Tanzania’s footing in global trade and provide a clear roadmap for economic stability and job creation.”
TMA’s Tanzania Country Director, Elibariki Shammy, echoed the significance of partnerships in fostering economic progress. "By addressing trade barriers and promoting intra-regional trade, we’re enabling businesses to thrive in competitive markets. Initiatives like this dialogue are key to enhancing systems that support local enterprises and cementing Tanzania's leadership in regional and global trade," he remarked.
Trade currently accounts for 20% of Tanzania’s GDP, and the event concluded with actionable recommendations to enhance export competitiveness and support the private sector in overcoming structural challenges. Stakeholders also called for strengthened collaboration between government and business to eliminate inefficiencies and empower local businesses to seize global opportunities.
Since its establishment, TMA has been instrumental in advancing trade integration across East Africa and the Horn of Africa, serving over 14 countries. Its efforts have resulted in a 16.5% reduction in cargo transit times on the Northern Corridor and a 70% improvement in efficiency at key one-stop border posts. These achievements underscore the potential for Tanzania to rise as a trade leader in the region and beyond.