TANZANIA and India have shown a commitment to work closely to find better ways to open new trade and investment opportunities for the benefit of both parties.

The Deputy Minister of Foreign Affairs and East African Cooperation, Ambassador Mbarouk Nassor Mbarouk, said the opening of the avocado market in India in 2022 is one of the examples of measures taken to strengthen trade between Tanzania and India.

Ambassador Mbarouk said this during the celebrations of the 74th anniversary of the Republic of India held on January 26, 2023 at the offices of the Indian Embassy in Dar es Salaam.

"India is the third largest trading partner with Tanzania and has been among the top five investors by investing 4.58 billion US dollars for the year 2021/22.

"The commercial balance in that year was equal to 630 investment projects with a value of 3.68 billion US Dollars that generated 60,000 new jobs," said Ambassador Mbarouk.

Ambassador Mbarouk added that Indian investors have shown interest in investing in Tanzania in various sectors such as mining, tourism, industry, agriculture, processing of agricultural products, energy, transportation, construction, financial services and human resource development has been increasing rapidly. .

"Other sectors that Indian investors have invested in Tanzania include health, education, water, information and communication technology.

"For example, in June 2022, we witnessed six companies from India signing a contract for the drilling of water wells in 28 cities with a value of 500 million US dollars, the completion of the project will enable six million Tanzanians to get clean and safe water," added Ambassador Mbarouk.

He said that Tanzania will continue to cooperate with India in developing and strengthening the foundations of cooperation established by the founders of both countries, the late Mwalimu Julius Nyerere and the late Mahatma Gandhi.

For his part, the Ambassador of India in the country, Binaya Srikanta Pradhan, has said that India has had a good relationship with Tanzania, where the relationship has been a springboard for development for both nations.

Ambassador Pradhan said that in the post-independence period, the relationship between India and Tanzania has flourished and stimulated the basis for increased commercial relations and investment on both sides.

"We continue to strengthen cooperation in ensuring that these two countries grow economically, so the cooperation between India and Tanzania is important in promoting the economy and ensuring that development is strengthened," said Ambassador Pradhan.