The Tanzania-Belgium Business Mission 2024 officially launched on Monday, November 2024, with a high-level Business-to-Business (B2B) forum in Dar es Salaam.
The event, organized by the Tanzania Investment Centre (TIC) in collaboration with the Tanzania Private Sector Foundation (TPSF), Belgiun’s Ministry of Foreign Affairs and East African Cooperation, and the Embassy of Belgium in Tanzania, aims to strengthen economic ties and foster strategic investment partnerships.
The delegation of 40 Belgian business investors was joined by over 300 Tanzanian business leaders and stakeholders, with discussions focusing on investment opportunities in agriculture, livestock, fisheries, industrial development, and logistics.
The mission, which runs from November 25 to 28, includes meetings and site visits to strategic locations such as the Dar es Salaam Port and Zanzibar to assess investment opportunities further.
During the opening remarks, Hon. Dr. Selemani Jafo, Minister for Industry and Trade, emphasized the mission’s significance in showcasing Tanzania’s investment potential and advancing industrial growth. He called on Tanzanian businesses to capitalize on this opportunity to enhance their exports and explore international partnerships.
Dr. Jafo also highlighted the robust trade relations between Tanzania and Belgium, with annual Tanzanian exports exceeding $186 million and Belgian exports to Tanzania standing at $115 million. He noted that Tanzania’s main exports to Belgium include agricultural products like coffee and tea, alongside minerals. “The government remains committed to supporting value addition in agriculture and increasing export opportunities to strengthen our trade ties,” Dr. Jafo added.
Belgium’s Ambassador to Tanzania, H.E. Peter Hughebaert, commended the strong participation of Tanzanian businesses and expressed optimism about the potential collaborations that could emerge from the mission.
Similarly, Tanzania’s Ambassador to Belgium, H.E. Jestas Nyamanga, emphasized Belgium’s role as a key partner in Tanzania’s economic development, noting over $430 million in Belgian investments in sectors like mining, agriculture, logistics, and hospitality.
The forum also revealed that as of October 2024, 48 Belgian projects worth $2 million have been registered in Tanzania, creating over 2,000 jobs.
TIC’s Acting Director for Investment Promotion, Mr. Daudi Riganda, expressed optimism that the mission would result in increased investment commitments and deeper economic ties between the two countries.
As part of the mission, the delegation is exploring logistics and trade opportunities at the Dar es Salaam Port and visiting Zanzibar to assess additional investment prospects. These site visits aim to identify potential projects and foster partnerships that align with Tanzania’s economic priorities.
The mission builds on the successful groundwork laid during the 2022 meeting between President Samia Suluhu Hassan and Belgian Prime Minister Alexander De Croo in Brussels, which highlighted the importance of strengthening trade relations between the two nations.
