Dodoma, 31 August 2022 (TDI): Foreign Minister of Tanzania, Ambassador Liberata Mulamula called on the non-resident High Commissioner of Singapore to Tanzania Douglas Foo on 30 August. 

Both officials discussed enhancing cooperation in various fields. They agreed to strengthen bilateral ties in trade, port development, tourism, agriculture, investment, culture, education, air transport & ICT.

Bilateral Trade relations 
Singapore and Tanzania first established diplomatic relations in 1980. The bilateral trade between the two states stood at S$126.5 million in 2012.
Business ties between both states boosted in 2013. Significantly, four Memorandum of Understanding (MOU) between both states’ officials at the Tanzania-Singapore Business Forum.
One of the MOUs signed was between Singapore Business Federation (SBF) and its counterpart, the Tanzania Private Sector Foundation. It also sought to enhance trade and investment between the business communities on both sides.
This was to be done through the facilitation of direct exchange of information, trade delegations, and the promotion of business opportunities.
Whereas other MOUs consisted of a joint venture between Singapore containership operator, Pacific International Lines (PIL), and Swire Pacific Offshore. It also included Tanzania conglomerate Mac Group for the provision of offshore oil and gas logistics.

 

Secondly, it consisted of a project for energy development between Singapore’s private equity holding group, Intarsia Capital Pte Ltd, and the National Development Corporation of Tanzania (NDC).

Lastly, a framework was made to explore cooperation and collaboration between the two parties in Tanzania in the areas of port development, management, and operations.

In 2021, Tanzania’s Vice President attended an Economic Forum in Singapore. Tanzania Imports from Singapore were US$82.23 Million.

Also Read: Tanzania will attend Bloomsberg New Economic Forum in Singapore

Moreover, bilateral Trade between the two states is expected to increase with South-South trade on the rise and growing confidence from investors in Tanzania and the East Africa region.

 

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