DAR ES SALAAM: THE Tanzania National Chamber of Commerce (TNCC) and Türkiye’s Independent Industrialists and Businessmen’s Association (MÜSİAD) have agreed to strengthen economic cooperation to promote investment, expand markets for goods and unlock new trade opportunities between the two countries.
The partnership aligns with the National Development Vision 2050, which seeks to accelerate economic transformation through private-sector-led growth.
The agreement was reached yesterday during a meeting between representatives of the two institutions in Dar es Salaam, aimed at strengthening private-sector collaboration in trade and investment.
The TNCC delegation was led by Mr Leonard Masai, representing the institution’s Executive Director, while MÜSİAD’s delegation was led by Mr Selim Başdemir. The meeting was coordinated by the Tanzanian Embassy in Türkiye.
Mr Masai said the two sides had agreed to collaborate in coordinating various trade and investment activities, including business missions, market research, information exchange on investment opportunities and the promotion of innovation.
“The cooperation is expected to create a favourable environment for Tanzanian and Turkish businesspeople to identify opportunities in each other’s markets, establish business relationships and stimulate investment across various sectors of the economy,” he said.
He added that the initiative aligns with the National Development Vision 2050, which seeks to drive economic growth through private-sector participation, expand trade and investment opportunities, and enhance the competitiveness of Tanzanian goods and services in domestic and international markets.
Recently, Minister of State in the President’s Office – Planning and Investment, Prof Kitila Mkumbo, met MÜSİAD representatives and invited Turkish businesspeople and investors to participate in strategic projects in the country.
He said the initiative forms part of efforts to strengthen economic cooperation and increase the value of trade between Tanzania and Türkiye to 1 billion US dollars.
Prof Mkumbo said the existing cordial relations between the two countries should be leveraged to expand trade and investment, noting that Turkish participation in strategic projects could stimulate economic growth and strengthen private-sector cooperation.
“It is important to use the good relations between Tanzania and Türkiye to promote investment and trade. The participation of Turkish investors in strategic projects can stimulate economic growth and strengthen private-sector cooperation between our two countries,” he said.
He assured investors that the government will continue providing the necessary support to facilitate investment and achieve shared economic development objectives.
MÜSİAD is one of Türkiye’s major business and industrial associations, with more than 14,000 members representing approximately 60,000 companies and supporting about two million jobs.
A delegation from the association, led by its Vice-President, Mr Selim Başdemir, arrived in Tanzania last Thursday for a four-day visit.
During the visit, the delegation held meetings with government leaders and private-sector stakeholders in Mainland Tanzania and Zanzibar.
The delegation, comprising industrialists, businesspeople and investors, also visited the Benjamin William Mkapa Special Economic Zone (BWM-SEZ) in Ubungo, Dar es Salaam, to explore available investment opportunities.
The visit provides an opportunity for Tanzanian industrialists and businesspeople to establish partnerships aimed at promoting industrial growth, trade and technology development.
It is part of efforts by the Tanzanian Embassy in Türkiye to strengthen mutually beneficial economic relations between the two countries by attracting investment capital, facilitating joint ventures, promoting technology transfer and expanding markets for goods from both countries.