Tanzania Strengthens Trade and Investment Ties with the European Union and South Korea

 

Dar es Salaam, February 18, 2025 – Prime Minister Kassim Majaliwa held discussions today with the European Union (EU) Ambassador to Tanzania, Christine Grau, at the Prime Minister’s Office in Magogoni, Dar es Salaam.

During the meeting, Prime Minister Majaliwa reaffirmed Tanzania’s commitment to enhancing trade and investment relations with EU member states.

"It is very encouraging to see the growth of trade and investment between Tanzania and the European Union. The EU has invested approximately three billion euros in Tanzania, which has significantly contributed to job creation and tax revenues," he stated.

He emphasized that Tanzania will continue to create an enabling investment environment to attract private sector participation in development activities.

Furthermore, Prime Minister Majaliwa acknowledged the EU’s substantial support in funding various development programs in Tanzania.

"Between 2021 and 2027, the EU has allocated 703 million euros to support various development projects in Tanzania. We are grateful for your dedication to strengthening this partnership," he said.

Earlier, Prime Minister Majaliwa also met with the Ambassador of the Republic of Korea, Ahn-Eun-Ju, who highlighted the longstanding trade relations between Tanzania and South Korea.

"Tanzania and the Republic of Korea have enjoyed strong trade relations for many years. In 2023, the trade volume reached 672.7 million dollars, compared to 280.4 million dollars in 2022," the ambassador stated.

"We recognize that South Korean companies have invested in various sectors in Tanzania, including manufacturing, transportation, and construction, thereby contributing to the development of our nations. We highly value these investments," she added.

Prime Minister Majaliwa urged Ambassador Ju to explore ways to facilitate employment opportunities for Tanzanian youth in South Korea, particularly in the manufacturing sector.

"On our part, we will ensure that Tanzanians meet the necessary qualifications required to work," he affirmed.

In response, Ambassador Ju assured Prime Minister Majaliwa that during her tenure, she would actively promote and enhance investment initiatives for the mutual benefit of both countries.