The Tanzanian Minister for Industry, Trade and Investment, Charles Mwijage, has confirmed preparation for a high-level business summit to be held at the Julius Nyerere International Convention Centre (JNICC) were at advanced stages and the government would be ready to host Russian investors on a mission in Africa.
“Arrangements with the co-host, the Russian government are taking place being coordinated by my ministry at which all preparations are at advanced stage,” the minister said in Dodoma. The two-day Russian-African Forum 2016 (RAF-2016) will be held at Julius Nyerere International Convention Centre (JNICC) where a large group of Russian government representatives, industrialists, and business tycoons will attend. During the meeting, Mr Mwijage and his Russian counterpart, Denis Manturov will ink bilateral economic and commercial relations between two countries.
The Forum is to open discussions on the cooperation of Tanzanian and Russian companies and provides an opportunity for Russian business, financial and government authorities to get a better understanding of the Tanzanian economy and to create mutual collaboration.
“Russian companies set sights on using RAF 2016 as a platform to explore new investment opportunities as well as to further strengthen the economic and trade relations with Tanzania,” said Ekaterina Dyachenko, head of the Organizing Committee of the Russian-African Forum (RAF).
She said the main purpose of the business mission is to increase presence on the Tanzanian market and to explore the huge potential for social and economic cooperation in areas such as agriculture, mining, oil and gas, tourism, economic infrastructure, manufacturing, fisheries, banking and insurance as well as education and health.
“The Forum will also provide an opportunity for Business-to-Business (В2В), Government-to-Business (G2B) and Government-to-Government (G2G) meetings and plenary sessions. There will be business visits at local factories and manufacturers to increase knowledge and shared experiences of business and investment developments.”
The turnover between Russia and Tanzania in 2014 reached 154 million US dollars, and the figures of the first quarter of 2015 were 71% higher than in the previous-year period. Tanzania maintained its position as the 11th fastest growing economy in the world.
Thus, Russia sees Tanzania as a promising business partner in the nearest feature. RAF 2016 has been organized by the Ministry of Industry and Trade of the Russian Federation, Ministry of Industry, Trade and Investment of Tanzania, the Embassy of Tanzania in the Russian Federation, the Embassy of Russian Federation in Tanzania and Export Club Russia in collaboration with The Tanzania Investment Centre (TIC) and Tanzania Private Sector Foundation (TPSF).