THE turnout of local firms at the Tanzania-Italy business and investment forum in Dar es Salaam was low compared to the range of opportunities presented, the government has admitted.

Mahmoud Thabit Kombo, the Foreign Affairs and East African Cooperation minister, made this affirmation in the city yesterday at the forum, noting that the 52 Italian companies present offered potential joint ventures with local partners.

He stated that a substantial number of Italian companies have shown interest in investing in factories in Tanzania to reduce transportation costs and remain competitive.

Affirming that trade between Tanzania and Italy was growing, he stated that the forum offered opportunities for local producers to export agricultural products such as avocados.

Underlining that a number of Italian companies intend to build factories here as transportation cost savings and lowering product prices boost competitiveness, he berated the low turnout among traders and producers.

Local firms need to target the Italian market which already imports avocado produce from some regions, to expand exports of products like fish, octopus, meat, oranges and cashews, he stated.

He emphasized the importance of such forums for traders to network with their Italian counterparts and initiate partnerships, as such forums are rare opportunities to connect with potential partners.

They can help open doors to foreign markets, in this case the Italian market and extended European Union markets to which Italy is a part, he said.

Local firms need to make the most of such opportunities, as it becomes a missed opportunity when one fails to act. “We need to show up in large numbers and take full advantage of such meetings,” he stated.

John Ulanga, the ministerial director of international trade and economic diplomacy, highlighted Italy’s significant investments in Tanzania, pointing at the tourism sector, with hotels in Zanzibar and on the Mainland.

The forum was organised to enhance chances of boosting exports to Italy and attracting capital, despite challenges in meeting European market standards for product quality and quantity, he said.

Attracting Italian investment brings not only products but also expertise and market networks, altogether essential for building strong partnerships and widening export outlets, he added.