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Tanzania has seen a significant increase in trade with Russia, with imports from the country more than doubling over the past year. According to the latest annual report from the Bank of Tanzania, the value of goods imported from Russia rose from TZS 303.2 billion in the 2021–2022 financial year to TZS 778.4 billion in the 2022–2023 financial year.
This growth in trade includes a variety of goods, such as chemicals, grains, oil, and industrial equipment. This increase reflects the growing cooperation between Tanzania and Russia, which has been strengthened through trade agreements and strategic partnerships.
Also Read: Tanzania Invites Russian Investors to Explore Opportunities
Experts estimate that this cooperation will continue to grow, as Tanzania seeks ways to increase exports of its products to Russia. Discussions are ongoing regarding further collaboration opportunities in sectors such as agriculture, mining, and energy, where Russia can provide technology and technical expertise, and Tanzania can offer natural resources.
In the context of this trade increase, the Tanzanian government has been encouraging entrepreneurs and businesses in the country to focus more on the Russian market, while also working to improve infrastructure and the business environment to facilitate international trade. Meanwhile, Russian investors are being urged to invest more in various projects in Tanzania, especially in the industrial and energy sectors.
