M a r k e t N e w s

Tanzania: Sweden Pledges Increased Trade and Investment, Hails Use of Aid Funds

Posted on : Thursday , 16th February 2017

Sweden has pledged to increase trade and investment while commending the government over good use of donor funds in executing various projects.

Swedish Ambassador to Tanzania, Katarina Rangnitt said at the end of a Swedish high level delegation to Tanzania that Sweden is impressed with government efforts to cut spending and good use of donor funds towards the direction of sustainable development.
"I'm very happy and proud of Tanzania. Sweden has been a friend and partner with Tanzania and now we want to increase trade and investment," ambassador Rangnitt said. Through free trade Sweden has built its wealth and that is what should be realised in Tanzania.
The delegation that visited Tanzania was led by the Director General for Trade in the Swedish Ministry Foreign Affairs, Ms Karin Olofsdotter and the Director General for International Development Cooperation, Johannes Oljelund together with eight other officials who toured Tunduma One Stop Border Post (OSBP) currently under construction.
The border lies between Tanzania and Zambia. The Swedish Embassy in Tanzania organised the visit in collaboration with TradeMark East Africa (TMEA). Ambassador Rangnitt also commended TradeMark East Africa (TMEA) efforts aimed at improving the lives of Tanzanians by strengthening the business environment.
TMEA is providing funding to the government through the Tanzania Revenue Authority (TRA) for the construction of the Tunduma OSBP and is working with border agencies in Tanzania and Zambia to set up mechanisms for integrated border management and harmonisation of customs procedures.
This aims to reduce waiting times at the border post by 30 per cent within 18 months. The TradeMark East Africa, Country Director, Mr John Ulanga, thanked Swedish government for its development assistance to Tanzania.
"The support on trade facilitation in areas of standards harmonisation and support to cross-border women traders is vital promoting cross-border trade and reducing poverty in Tanzania," he said.
TMEA Director-General Mr David Stanton said TMEA in conjunction with Sweden and other development partners would replicate the success of other onestop border posts in the region.
He added that TMEA would work with the government especially to improve the treatment of women crossborder traders so they can trade without hindrance, and generate greater incomes for their families. Tanzanian women traders interviewed by the Swedish delegation were trading in Zambia and DRC.

Source : allafrica.com
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