Tanzania eyes economic gains from G20 leaders' summit in Rio de Janeiro

By Joseph Mwendapole , The Guardian
Published at 09:41 AM Nov 19 2024
President Samia Suluhu Hassan is in Rio de Janeiro, Brazil to attend the G20 heads of state and government summit—a significant platform for global cooperation and development.
Photo: State House
President Samia Suluhu Hassan is in Rio de Janeiro, Brazil to attend the G20 heads of state and government summit—a significant platform for global cooperation and development.

THE 19th G20 Leaders' Summit began on Monday in Rio de Janeiro, Brazil, offering promising economic opportunities for Tanzania. The gathering, which features leaders from the world's most powerful economies, presents a significant platform for global cooperation and development.

It is the first time the summit is hosted in South America under Brazil's presidency. The event focuses on addressing global issues such as energy transition, sustainable development, and reforming multilateral institutions, all under the theme ‘Building a Just World and a Sustainable Planet’

Brazil has also introduced initiatives like the global alliance against hunger and poverty, the global mobilization against climate change as well as programmes to boost bio-economy efforts. 

These initiatives aim to strengthen global cooperation on urgent challenges like climate change, social inequality and poverty. The summit marks significant progress in inclusivity, with the African Union officially joining as a permanent member in 2023. 

It offers developing countries, including Tanzania, unique opportunities for collaboration on issues like clean energy access, climate-smart agriculture and technology transfer.

Tanzania's President, Samia Suluhu Hassan is attending the summit, marking a historic moment as the first African female president to participate in a G20 meeting. 

Her presence is expected to foster partnerships that could secure concessional funding and expand access to clean energy, boosting Tanzania's developmental trajectory.

President Samia's invitation to the G20 symbolizes a notable achievement for a developing country. Her administration's economic reforms and proactive diplomacy have elevated Tanzania's international profile, securing a place at the table with the world's wealthiest nations. 

This opportunity underscores Tanzania's growing importance on the global stage and serves as an honour not just for the nation but also for Africa.

The G20, an international forum comprising 19 member states and the European Union, recently welcomed the African Union as a member in September 2023. 

The group collectively represents 75 percent of global trade and 85 percent of the world's Gross Domestic Product (GDP). Member countries include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States.

The summit's agenda focuses on promoting global economic stability, addressing climate change, enhancing energy security, and fostering development. 

Minister for Foreign Affairs and East African Cooperation, Mahmoud Thabit Kombo, highlighted strategic importance of Tanzania's participation, insisting that President Samia's efforts are geared at securing technology transfer and financial support for the country and the African continent.

“Tanzania’s participation is a testament to President Samia's tireless work to attract investment, fight poverty, and achieve sustainable development goals,” said Minister Kombo. 

He also noted that the summit will enable Tanzania to advocate for clean cooking initiatives, renewable energy infrastructure, and climate-smart agricultural practices, aligning with national development priorities.

The summit provides a platform for Tanzania to promote investments in food security and climate resilience while addressing the broader effects of climate change on regional food systems. 

Kombo expressed optimism that Tanzania's involvement would elevate its international standing, enabling long-term partnerships to realize the nation's Vision 2025 and Zanzibar's Vision 2050.

“This milestone underscores Tanzania’s commitment to tackling global challenges such as social inclusion, economic equality, and climate resilience,” he stated, adding that President Samia's active participation demonstrates her dedication to representing Africa’s interests on the world stage.

A historical perspective

This is not Tanzania's first engagement with such high-level forums. The late President Benjamin Mkapa attended the G8 Summit in Scotland in 2005 while former President Jakaya Kikwete participated in a similar meeting in Japan in 2008. 

These early interactions laid the groundwork for Tanzania’s current role in global economic discussions.

Over the years, the G20 summits have focused on various themes. The 2023 summit in New Delhi, India, operated under the theme ‘One Earth, One Family, One Future’, emphasizing sustainable development, gender equality, debt relief for developing nations and strengthening health systems. 

Previous summits have been hosted in Bali, Indonesia (2022), Rome, Italy (2021), and Riyadh, Saudi Arabia (2020) among others.

As the G20 Summit continues in Rio de Janeiro, Tanzania’s active engagement signals its readiness to embrace global opportunities and address challenges collaboratively. 

The outcomes of this summit are expected to significantly shape Tanzania’s path toward economic growth and sustainable development.