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Home Africa

Tanzania Reinforces Trade Ties with Nigeria at Lagos Trade Fair, Focuses on Intra-African Economic Collaboration

Business 360 by Business 360
November 12, 2024
in Africa, East Africa
0
Tanzania Reinforces Trade Ties with Nigeria at Lagos Trade Fair, Focuses on Intra-African Economic Collaboration

The Tanzania High Commission in Nigeria has reiterated its dedication to strengthening trade and diplomatic ties with Nigeria and other West African nations, following its active participation in the recently concluded Lagos International Trade Fair. The fair, held at Tafawa Balewa Square in Lagos, concluded on November 10, 2024, and served as a platform for Tanzania to showcase its diverse range of products to the Nigerian market.

In a statement released by the acting High Commissioner of the United Republic of Tanzania to Nigeria, Judica Nagunwa, it was emphasized that Tanzania’s involvement in the trade fair is a key part of the country’s broader strategy to enhance economic diplomacy across Africa. Nagunwa was represented at the event by Edna Sylvester, the Economic Affairs Officer at the Tanzania High Commission, who spoke to the media about the mission’s role in promoting Tanzania’s economic interests throughout the continent.

Showcasing Tanzanian Products

The High Commission highlighted that Tanzania’s participation in the trade fair was intended to showcase a variety of Tanzanian products, including coffee, tea, spices, wine, leather goods, and more. Sylvester emphasized that these products are of high quality and have significant potential in the Nigerian and broader West African markets.

“As part of our economic diplomacy efforts, we participate in international trade fairs to showcase Tanzanian products. Here, we are exhibiting coffee, tea, spices, wine, leather products, and much more,” Sylvester said. “We hope to engage potential Nigerian importers interested in sourcing these products from Tanzania. This is part of our broader vision to foster stronger trade relations between Tanzania and Nigeria, and to promote economic collaboration across the African continent.”

Support for Intra-African Trade

Tanzania’s participation at the Lagos International Trade Fair aligns with its commitment to the African Continental Free Trade Area (AfCFTA), a pact aimed at boosting intra-African trade and enhancing the continent’s economic integration. According to Sylvester, Tanzania firmly believes that African countries must strengthen trade ties amongst themselves, as the continent has all the resources needed for sustainable development.

“African countries must trade amongst ourselves, as we have all that we need,” Sylvester emphasized, underscoring Tanzania’s belief in the potential of intra-African trade to spur economic growth. The AfCFTA is seen as a vital tool in unlocking the continent’s trade potential by reducing barriers to trade, increasing market access, and encouraging investments within Africa.

The statement also pointed out that Nigeria, as one of Africa’s largest economies, represents a significant trade partner for Tanzania. With both countries sharing a commitment to strengthening bilateral economic relations, Tanzania hopes to engage more Nigerian businesses and consumers in the coming years.

Promoting Regional Economic Cooperation

Tanzania’s outreach to West Africa, particularly Nigeria, is part of a broader diplomatic and economic strategy aimed at enhancing cooperation across the African continent. As a member of the East African Community (EAC), Tanzania seeks to expand its footprint beyond the East African region and tap into new markets in West Africa, where economic growth and trade opportunities are rapidly growing.

Tanzania’s products, particularly coffee and tea, are well-regarded globally, and the trade mission to Nigeria seeks to capitalize on this recognition by increasing exports to the West African region. By promoting Tanzanian products at international trade fairs, the government is positioning itself as a reliable trade partner in the African market.

Looking to the Future

The Tanzania High Commission’s participation at the Lagos International Trade Fair underscores a long-term vision to deepen economic ties between Tanzania and Nigeria. Looking ahead, both countries are expected to explore new avenues for collaboration in trade, investment, and business development. As the African economy continues to grow, initiatives like this are seen as vital to unlocking the full potential of regional partnerships.

The High Commission expressed hope that the trade fair would serve as a stepping stone for greater collaboration between Tanzania and Nigeria, with both nations poised to benefit from the growing trend of intra-African trade.

Tags: #AfCFTA#IntraAfricanTrade#LagosTradeFair2024#TanzaniaNigeriaTrade
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