Analysis

Tanzania Promises Turkish Investors Many Opportunities

Türkiye and Tanzania are countries that have longstanding cultural and economic ties. Being one of the first embassies commenced in Sub-Saharan Africa in 1979, even before Türkiye’s Africa expansion in 1998, the Turkish Embassy in Dar es Salaam is the greatest sign of this closeness. Looking at the economic and commercial relations between Türkiye and Tanzania, we observe that in the last five years, Türkiye has undertaken a number of different projects in Tanzania, especially Turkish companies in the contracting sector. The reports of the Turkish Contractors Association show that Tanzania was the 3rd country where the most projects were undertaken in 2021 and the total project cost was $1.9 billion. In the January-September period of 2022, a project cost of $900 million was achieved in Tanzania, the 4th country where the most projects were undertaken.

Our trade volume has also maintained an upward trend in recent years, despite challenges such as the coronavirus pandemic, the disruption of international supply chains and global inflation. Between 2017 and 2021, the trade volume between the two countries increased by 78% from $164.5 million to $293.5 million. Tanzania is a very untouched country in various sectors such as tourism, infrastructure, agriculture, machinery, chemistry, livestock and mining, and promises many opportunities and advantages to Turkish investors.

Erdem ARIOĞLU- Chairperson of DEİK/Türkiye-Tanzania Business Council

 

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