THE Confederation of Tanzania Industries (CTI) and the Fair Competition Commission (FCC) yesterday signed a memorandum of understanding (MoU) to collaborate in efforts to improve performance of the two institutions.

Leodegar Tenga, the CTI executive director, said shortly after signing the contract, that the local industrial sector is not doing well, requiring efforts to increase efficiency.

Focusing on the goals of strengthening the industrial economy, he said more efforts needed to attract investors, thus the cooperation agreement entered with the FCC will help in improving the performance of various industries.

"Industries are still not doing as well as we want,’ he said, explaining that collaboration will take CTI further. “We must work together to create a good environment for investment and doing business in the country," he stated.

William Erio, the FCC director general, said the agreement also aims to enhance the exchange of information, as greater competition helps to achieve national goals of an industrial economy.

"This historic agreement will also help implement two laws that affect all of us, FCC and CTI,” he said, citing the Fair Competition Act, Cap. 285 RE: 2002, and the law on trademark rights.

“We want to see trade competition, especially in industries,” he emphasised, noting that the more industries are competitive the better, as thus the two organisations need to help each other to implement the law on trademarks.

To support government efforts in attracting investors and creating a good business environment, CTI and FCC need to comply with the law and manage their explicit provisions, he stated.

"Without competition there is no industrial development, but we need proper and legal competition, no predatory pricing for industrialists and compliance with tendering legislation," he elaborated.

The FCC is a public entity mandated to promote effective competition in industry and commerce, shielding consumers from unfair or misleading market conduct, he added.