Tanzania: Dar Crafts Online Investment System

Tanzania is developing an online system that will help to identify opportunities available in various countries as part of its economic diplomacy’s goal to ensure that it reaps the benefits of friendly relations with other nations.

Ambassador Edwin Rutageruka, Director of Economic Diplomacy at the Ministry of Foreign Affairs and East African Cooperation disclosed this during a virtual discussion on the importance of economic diplomacy on Sunday.

The system that will be operational in six months will connect Tanzanian traders with others outside borders as well as allowing diplomats representing Tanzania in various nations to see available prospects in the country.

“The priority of our embassies that represent us in various countries is economic diplomacy,” he added. “The integrated system will be linked to other ministries to ensure that products accessible in various locations are reflected in the system.”

Diplomats, he says, may use the system to identify opportunities available in the country and how to connect investors with them.

He further said Tanzania has enjoyed various benefits from its relationships with other nations, including establishing markets for sheep, goats, and cattle in Saudi Arabia, fruits in Qatar, and soybeans and cassava in China.

Ambassador Rutageruka stated that every crop produced in the country has its reliable market.Tanzania currently has a 44 per cent market share in the East African market while Kenya and Rwanda each has 15 per cent, indicating that there is a lot of potentials to sell in that market.

Tanzania’s Ambassador to South Korea, Mr Togolani Mavura, underlined the importance of diplomacy for Tanzania, adding that the country’s geographical location requires it to invest more in diplomacy.

“If we don’t strengthen diplomacy, we will have to spend a lot of money to deploy our soldiers to secure borders because they are porous, this is why President Samia Suluhu Hassan travelled to our neighbours to strengthen relationships built with previous leaders,” he explained.

Mr Mavura further said diplomacy is a worthwhile investment since it saves the country’s money that could be spent on other things and allows Tanzanians to conduct business with other countries without difficulties.

According to him, there are some difficulties that one country cannot tackle on its own such as climate change and diseases, which is why President Samia attended the United Nations Climate Change Conference (COP26).

Mr Jeff Msangi, a Tanzanian diaspora speaking from Canada stated that Tanzania’s economic diplomacy is vital since the country cannot be separated from the rest of the world.

“Diseases like Covid-19 and climate change have reminded the world of the importance of cooperation; if we isolate ourselves, we will miss out a lot,” he said.

He went on to say that the government must also work to improve Tanzania’s international image by beginning to modify some laws to keep up with global technological development.

Tanzanians should be educated on the value of diplomacy so that they do not have questions when they see President Samia travelling abroad, according to Ms Loveness Mamuya, who spoke from the United States of America.

Ms Mamuya called upon the government to look into how journalists may be used to educate people about the value of presidential trips outside the country.

She stated that the establishment of the diaspora desk is critical to discover how the diaspora can assist the country and engage them in plans that can help spur economic growth.

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