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Tanzania, Kenya in talks to strengthen bilateral trade

01-05-2018

No man is an island, the saying goes and even the big authorities acknowledge strength in numbers. Two East African countries, Tanzania and Kenya are looking to boost their trading partnerships in a bid to expand their economies and drive the economic outlook in the regional market to a successful breeding ground for investments.

The two countries depend on the agricultural sector and their direct investments are geared towards value addition on the same. Kenya has been a pioneering country in the sector as Tanzania seeks to focus more on the tourism end to stabilize the economy while keeping a keen eye on the agriculture sector. Plans are underway to lift the industry and get better to market their produce to the international market with the required standards.

Other categories highlighted for the two parties to look into is the manufacturing sector which is gaining grounds and popularity. The Tanzania President John Magufuli is keen to support the local manufacturing sector, to dominate the domestic market and build their empire. A number of consumers have preferred imported goods but the new policy by their leader could turn things in the favor of local manufacturers.

Kenya is building on the same line to give local factories a lifeline and opportunity to grow as well as impact the economy of the country. This will create more job opportunities for the job seekers and a chance to use their skills to be more productive in their nation.

Both countries will act as perfect examples to the East Africa Community to get more involved with boosting trade and working within themselves than looking outside for help. The two sectors will play a fundamental key in expanding the economies of the countries and help them achieve their visions with less burden.

SOURCE: https://www.exchange.co.tz/tanzania-kenya-talks-strengthen-bilateral-trade/