Tanzania, Indonesia sign pacts to enhance trade and investment

In a significant step towards strengthening bilateral ties, Tanzania and Indonesia have sealed seven Memoranda of Understanding (MoUs) during President Samia Suluhu Hassan's visit. Among the agreements is a letter of intent for investment promotion and facilitation.

President Hassan is currently on a three-day state visit to Indonesia, which began on January 24th and will conclude on Friday, January 26, 2024. The MoUs cover various sectors such as the blue economy, agriculture, and minerals.

Furthermore, there is an MoU between the Ministry of Foreign Affairs and East African Cooperation of Tanzania and the Ministry of Foreign Affairs of Indonesia on Diplomatic Capacity-Building Cooperation.

Other agreements include the collaboration between the Tanzania Trade Development Authority (Tantrade) and PT Perusahaan Perdagangan Indonesia, the University of Dar es Salaam and Institute TeknologiBandung, and the Tanzania Chamber of Commerce, Industry, and Agriculture (TCCIA), Zanzibar National Chamber of Commerce (ZNCC), and Indonesian Chamber of Commerce and Industry (KADIN).

President Hassan's visit to Indonesia reciprocates President Joko Widodo's state visit to Tanzania in August last year. During the visit, President Hassan and her delegation held a bilateral meeting with their Indonesian counterparts and conducted a joint press briefing with President Widodo.

During the briefing, President Hassan emphasised the potential of attracting more investors to Tanzania's energy sector following the recent agreement between Tanzania Petroleum Development Corporation (TPDC) and Indonesia's Petramina.

She expressed Tanzania's interest in collaborating with Indonesia to foster mutual economic growth and sustainability in the renewable energy sector.

President Hassan also highlighted the importance of clean cooking solutions and expressed Tanzania's commitment to ensuring access to clean cooking fuels and technologies to empower communities and protect the environment.

“Tanzania continues to underscore access to clean and safer cooking fuels and technologies. Access to clean cooking fuels and technologies not only empowers our communities but also protects our trees,” said President Hassan.

President Widodo, on his part, reaffirmed Indonesia's commitment to fostering relations with Tanzania in trade, investment, and the health sector. He mentioned Indonesian pharmaceuticals' interest in meeting Tanzania's medical demands. President Widodo also called for Tanzania's participation and support in the Indonesia-Africa Forum II to enhance South-South cooperation, particularly in the economic sector.

Both leaders expressed their agreement to expand cooperation in various sectors within the bilateral context, emphasising the benefits it will bring to the people of both countries.