Tanzania and Turkey have strengthened their economic relations after signing new investment agreements aimed at boosting trade, attracting investment, and creating wider opportunities for citizens in both countries.
The signing ceremony took place on April 18, 2024, witnessed by the President of the United Republic of Tanzania, Samia Suluhu Hassan, and the President of Turkey, Recep Tayyip Erdoğan.
The agreements were signed between the Investment Office of the Republic of Turkey and Tanzania’s investment authority, marking a new phase of cooperation focused on practical economic benefits.
On behalf of Turkey, the agreements were signed by Zeynel Kılıç, Vice President of the Investment Office of the Republic of Turkey, while Tanzania was represented by the Director General of TISEZA, Mr. Gilead Teri.
The new agreements are expected to directly benefit citizens by opening up more job opportunities, supporting local industries, and increasing access to international markets.
They also aim to attract investors who will bring capital, skills, and modern technology into Tanzania’s economy.
Speaking during the ceremony, both leaders emphasized that the partnership is not only about government cooperation but also about improving livelihoods through economic growth.
They stressed that strong investment ties will help young people access employment, support small and medium enterprises, and strengthen key sectors such as manufacturing, agriculture, energy, tourism, and infrastructure.
Through this collaboration, Tanzania expects to improve its investment climate by simplifying procedures for investors and strengthening institutional coordination.
This is intended to make it easier for businesses from Turkey to invest in Tanzania, while also encouraging Tanzanian entrepreneurs to explore opportunities in Turkey.
The Investment Office of the Presidency of the Republic of Türkiye noted that it is committed to supporting Turkish companies interested in expanding into Africa, particularly Tanzania, which is seen as a strategic gateway to regional markets.
For Tanzania, the agreements align with national development priorities of increasing foreign direct investment, creating employment, and expanding industrial production.
Citizens are expected to benefit through new business opportunities, improved services, and skills development as investors establish new projects in the country.
The presence of both Presidents at the signing ceremony highlighted the strong political will behind the partnership, signaling confidence that the agreements will translate into real economic results.
As implementation begins, both countries are expected to work closely to ensure that the agreements move beyond paperwork and result in tangible projects that improve the lives of ordinary citizens through growth, jobs, and innovation.
