Tanzania is ready to deepen economic cooperation with Singapore, focusing on trade, investment, tourism, artificial intelligence, and digital revenue collection systems, Finance Minister Amb. Khamis Mussa Omar (MP) has said.
Amb. Omar made the remarks during a meeting with Singapore’s Ambassador to Tanzania, based in Singapore, Mr. Douglas Foo.
The discussion focused on strengthening bilateral relations in economic, social, and diplomatic areas.
The two leaders explored ways to fast-track agreements on trade and investment protection, as well as a treaty to avoid double taxation.
Amb. Omar urged Singaporean investors to explore Tanzania’s regional market, highlighting the country’s strategic position as a gateway to six landlocked neighboring nations.
He also pointed to Singapore’s advanced use of digital systems in tax collection and said Tanzania is ready to adopt similar technologies to improve revenue collection through the Tanzania Revenue Authority (TRA).
Ambassador Foo said Singapore is committed to supporting Tanzania by encouraging its companies to invest capital and technology. He noted that Tanzania has been a strong partner since diplomatic relations were established 46 years ago, adding that expanding cooperation would benefit both countries.