Egypt-Tanzania Business Forum Kicks Off To Strengthen Bilateral Trade Ties

(MENAFN- Daily News Egypt) Egypt's ambassador to Tanzania, Sherif Ismail, inaugurated the Egypt-Tanzania Business Forum, marking the start of an Egyptian trade mission to Tanzania.

The event was organized by the Egyptian Export Council for Chemical Industries and Fertilizers in collaboration with the Export Council for Building Materials, Refractories, and Metallurgical Commodities, and coordinated with the Egyptian Commercial Service (ECS).

Ambassador Ismail emphasized the forum's strategic importance in deepening economic and trade relations between Egypt and Tanzania. He highlighted the complementary resources and economic potential of both nations, which contribute to sustainable development. He also reaffirmed Egypt's commitment to fostering investment and trade with Tanzania by creating a conducive business environment and strengthening cooperation between the public and private sectors.

Mohamed Attaya, Head of ECS office in Tanzania, underscored the significance of collaboration, noting the participation of 23 Egyptian companies from 10 key sectors, including chemicals, fertilizers, agriculture, and manufacturing. He mentioned that Egyptian companies had already visited local markets, such as Kariakoo, and would continue exploring factory visits.

“The potential is unlimited, but the main opportunity lies in the agricultural sector,” Attaya said.“One of the primary challenges in bilateral trade has been the absence of a free trade agreement between Tanzania and Egypt, as Tanzania is not part of the Common Market for Eastern and Southern Africa (COMESA). However, efforts are underway to facilitate trade under the African Continental Free Trade Agreement (AfCFTA).”

Latifa Khamis, Director General of TANTRADE, described the forum as a valuable opportunity for Tanzanian businesses to form strategic partnerships with Egyptian counterparts.

“Egypt has made significant advancements in agriculture, while Tanzania provides a favorable investment environment. We have already engaged in discussions with Egyptian firms, and I encourage local businesses to seize these opportunities,” Khamis said.

She pointed to promising investment prospects in fertilizers, chemicals, and seeds, noting that Egypt was recognized as an outstanding international participant at last year's Sabasaba Trade Fair.

Mohamed Mageed, representing the Chemicals and Fertilizers Export Council of Egypt, reaffirmed Egypt's dedication to strengthening trade relations with Tanzania. He emphasized the deep-rooted political and economic ties between the two nations and stressed the importance of expanding collaboration in sectors such as building materials, industrial chemicals, steel, agriculture, and plastics.

“Tanzania presents immense potential, and we are eager to expand our presence here. With over 100 fertilizer products, we are engaging with traders and relevant authorities to facilitate partnerships that go beyond imports to include technology transfer and local production,” Mageed concluded.

Tanzanian participants praised the forum for opening doors to new market opportunities in Egypt and creating pathways for potential local manufacturing partnerships.

The opening session was moderated by Ahmed Abdel Fattah, Executive Director of the Export Council for Building Materials, Refractories, and Metallurgical Commodities. He encouraged participants to maximize the opportunities presented by the event to strengthen mutual collaboration and unlock new avenues for investment and trade.

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