The longer term prospects of financial and commerce relation between Tanzania and Germany are set to hit new heights, with the go to into the nation by the latter’s President Frank-Walter Steinmeier beginning as we speak.

Within the course, Germany’s high leaders will go to 4 African nations this week, together with Germany Chancellor Olaf Scholz, who departed Berlin for Nigeria yesterday, on what’s his third journey to Africa since taking workplace nearly two years in the past. He will even go to Ghana.

Germany President Frank-Walter Steinmeier is about to do likewise as we speak, when he’ll arrive for a three- day working go to in Tanzania earlier than heading to Zambia. Their talks in Nigeria, Ghana, Tanzania and Zambia will deal with strengthening financial ties.

These visits are linked to the reform of Berlin’s “Compact with Africa” initiative forward of the November 20, 2023, assembly of African and G20 nations in Berlin.

In keeping with a press release issued by the Ministry of Overseas Affairs and East African Cooperation’s Communication Unit, the delegation of President Steinmeier will embrace different authorities leaders and traders of 12 massive firms.

“The delegation will arrive within the nation by means of the Julius Nyerere Worldwide Airport (JNIA) in Dar es Salaam as we speak and will probably be acquired by the Minister for Overseas Affairs and East African Cooperation, Mr January Makamba,” learn a part of the assertion.

In keeping with the assertion, President Steinmeier will maintain official talks together with his counterpart, President Dr Samia Suluhu Hassan at State Home in Dar es Salaam tomorrow. After the talks, each presidents could have the chance to temporary journalists on the vital points reached throughout their talks.

Furthermore, the assertion famous that each presidents will take part within the Enterprise Discussion board collectively organised by Germany Embassy in Tanzania and Tanzania Funding Centre (TIC) in Dar es Salaam, which can contain businessmen and traders of the 2 nations. Amongst different issues, the leaders will obtain the data mentioned by the discussion board.

When Steinmeier meets with representatives of the German and Tanzanian enterprise communities, the main focus will probably be exactly on the financial prospects and commerce.

On the identical day, President Steinmeier is anticipated to satisfy and maintain talks with younger Tanzanian entrepreneurs (start-ups), who’re concerned within the innovation of latest know-how particularly in the usage of synthetic intelligence (AI) sponsored by Germany.

Additionally, President Steinmeier will go to Twiga Cement Manufacturing unit in Dar es Salaam, which is run in partnership with the Scancem Worldwide Firm of Germany.

On Wednesday, President Steinmeier will journey to Songea District in Ruvuma Area, to go to the Majimaji Battle Museum and the Majimaji Major Faculty, that are the one museums in Tanzania exhibiting the good historical past of the Majimaji Battle within the liberation motion towards Germany colonialism.

“Tanzania and Germany have good diplomatic relations which have lasted for greater than 60 years. These two nations have been collaborating on numerous strategic sectors, particularly in commerce and funding, water, well being, gender equality, girls’s empowerment, biodiversity conservation, finance administration, tourism, heritage and tradition” learn a part of the ministry assertion.

In keeping with the Tanzania Income Authority (TRA) and the Tanzania Funding Centre (TIC), Tanzania has been promoting items to Germany with a median of 42.04 million US {dollars} per yr and the primary merchandise that Dar es Salaam sells to Berlin embrace espresso, tobacco, cotton, honey, fish, wax and minerals particularly treasured stones.

Tanzania imports merchandise from Germany with a median of 237.43 million US {dollars} per yr and these are medicines, medical units, oils (fragrance, cosmetics), vehicles, home equipment and electrical machines.

In keeping with the TIC, Germany is among the many ten main nations for funding within the nation, the place till August 2023, 178 German initiatives price 408.11 million US {dollars} have been registered and generated about 16,121 employment alternatives.

On the a part of Zanzibar, the Zanzibar Funding Promotion Authority ZIPA has efficiently registered 15 initiatives price 300 million US {dollars}, which have generated 905 employment alternatives.

However, the assertion famous that German firms’ investments within the nation are principally concerned within the sectors of agriculture, business, renewable power, development, tourism, artwork and tradition.

“The go to is proof that the nation’s diplomatic economic system beneath the sixth authorities is flying excessive,” the assertion added.

Steinmeier’s journey to Tanzania comes as no shock, says Maren Diale-Schellschmidt, head of the German Chamber of Overseas Commerce in neighbouring Kenya.

“The funding framework for German firms has improved considerably within the two years since President Samia Suluhu Hassan has been in energy,” she instructed DW.

In keeping with Diale-Schellschmidt, Tanzania is catching up on infrastructure, power and environmental technology- a sector that’s of explicit curiosity to Germany. German firms are wanting past northern and southern Africa and opening increasingly new places within the west and east of the continent, she says.