Tanzanian President Samia Suluhu Hassan is set to meet with Indian Prime Minister Narendra Modi to bolster the diplomatic ties between their countries. This visit marks an important milestone, occurring after an interval of more than eight years. The primary focus of the discussions revolves around the elevation of bilateral relations into a strategic partnership.
Enhanced Trade and Investment Commitments Expected
Tanzanian Foreign Minister January Yusuf Makamba expressed optimism about significant announcements related to trade and investment enhancement. Both governments, alongside private entities, are expected to unveil about 15 agreements covering various areas of cooperation. These agreements aim to foster deeper economic collaboration between the two nations.
One noteworthy aspect of India's assistance to Tanzania is its commitment to water projects. India has already contributed USD 1 billion to support these initiatives, and there is anticipation of an extension of this partnership during President Samia Suluhu Hassan's visit.
As part of her visit, President Samia Suluhu Hassan will address a business forum in New Delhi on October 10. This event is anticipated to facilitate the signing of new agreements and partnerships between Tanzanian and Indian companies, further promoting economic engagement.
Aiming for USD 10 Billion Bilateral Trade
One of the primary objectives of this visit is to substantially increase trade volumes. Both countries aspire to reach USD 10 billion in bilateral trade within the next three years. Addressing barriers and challenges that hinder trade expansion is a key focus of the discussions.
Tanzanian Foreign Minister Makamba praised India's initiative for trade settlement in national currencies. This approach offers several advantages, including benefits related to exchange rates and the preservation of foreign exchange reserves. Technical details are currently being refined to maximize its potential.
Strengthening Defence Cooperation
In addition to economic cooperation, India and Tanzania have been collaborating to strengthen their defence ties. This involves capacity building, training, technology transfer, joint patrols, and military exercises. Specific equipment needs and agreements will be determined through detailed conversations between technical teams.
The Tanzanian President's visit to India will begin with a ceremonial welcome at the Rashtrapati Bhawan, followed by comprehensive bilateral discussions with Prime Minister Modi. The visit holds the promise of elevating India-Tanzania relations to new heights, with a focus on economic, developmental, and security cooperation. This diplomatic endeavor is poised to shape a brighter future for both nations.