Joseph Isangura
Tanzanian economists have emphasized the urgent need for removing trade barriers between Tanzania and China.
This call comes amidst ongoing discussions about improving the trade balance, which currently favors China significantly.
Dr. Nassib Mramba, a Senior Lecturer at the College of Business Education (CBE), highlighted that reducing these barriers would create a more equitable trade environment. He proposed that bilateral agreements, including the adoption of the Chinese Yuan for transactions, could facilitate smoother trade and help rectify the current imbalance.
The upcoming FOCAC meeting, scheduled for September 4-6, 2024, in Beijing, serves as a crucial platform where China offers various forms of support to African nations, including Tanzania.
Discussions at the forum are expected to focus on strengthening economic ties and addressing the disparities in trade, where China’s exports to Tanzania significantly outpace its imports from the country.
Recent developments, such as the China-Tanzania Investment Forum held in Dar Es Salaam, underscore the growing importance of these discussions.
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During the forum, attended by over 300 enterprises, several Memoranda of Understanding (MoUs) were signed, aimed at boosting bilateral trade and investment in sectors like agriculture, infrastructure, and clean energy
Dr. Mramba’s call aligns with the broader goals of FOCAC, which aims to deepen cooperation between China and African nations. By addressing trade imbalances and removing barriers, both countries stand to benefit from a more robust and fair trading partnership.
The FOCAC summit will likely be a pivotal moment for Tanzania to push for these changes, ensuring that future trade relations with China are more balanced and mutually beneficial.
