THE government has reiterated its commitment in strengthening business and investment ties with Brazil in creating a sustainable growing economy for both countries.

Dr Selemani Jafo, the Minister for Industry and Trade, underscored the commitment in Dar es Salaam over the weekend during the Brazil-Tanzania Trade Missions seminar aimed at exploring opportunities across several sectors including agriculture and food, healthcare, industry, services, automotive, defence and aviation.

He said there is a need to expand production beyond traditional ways to the value-added products with higher profit margins in addressing the existing challenges and tap the available potentials for the two states.

“I want to reaffirm the government’s commitment to supporting your business and investment in Tanzania. We are looking forward to seeing a strong partnership between Tanzania and Brazil companies working together in partnerships for a more sustainable vibrant growing economy,” he said.

He added: “I have no doubt that this seminar will provide unique opportunities for business communities to interact, share business and success stories. This is about building connections. closing deals. Above all, it’s about the shared future of our business between Tanzania and Brazil.”

According to him, the 2023 statistics indicate that Tanzania exports valued at 0.1 million USD to Brazil, while Brazil’s exports to Tanzania were valued at 64.6 million USD urging some improvement as the trade volume decreases.

“For cost reduction upon businesses, the government has decided to invest on mega projects development like roads, airports construction, reestablishment of airline company, construction of Standard Gauge Railways (SGR), and Nyerere hydropower project for power generation to improve investment environment in the country.”

Gustavo Martins Nogueira, the Brazilian ambassador to Tanzania, said since establishing diplomatic relations, in 1970, the two countries have consistently worked side by side to strengthen their bilateral ties.

The envoy said that Tanzania and Brazil have opportunities to share, grow and learn from each other in a partnership among equals.

“Tanzania has now 65 million people and this population is set to double by 2050, according to recent UN estimates. As we look ahead to Tanzania 25 years from now, a country of 130 million people, we realize how crucial it will be for Tanzania to promote its industrial base, to promote its manufacturing base, to create wealth in order to provide jobs and opportunities for its growing population,” he added.

Ambassador Alex Giacomelli, director of the Trade Promotion Department of the Brazilian Ministry of Foreign Affairs, underlined that the Brazilian Government is taking concerted steps to expand and deepen commercial and trade ties with African countries