THE Ministry of Industry and Trade has reviewed the National Trade Policy of 2003 and issued the 2023 edition of the Policy (National Trade Policy 2003 Edition 2023) which is expected to be officially launched tomorrow, Tuesday.

This was said yesterday in Dar es Salaam by the Minister of the Ministry, Selemani Jafo when speaking to journalists about the launching of the policy.

He said that the Policy has the mission of establishing a strong System and Strategy that aims to improve the business environment, increase economic growth, and improve the well-being of citizens.

He said that the Policy is a reference to the Policy of 2003 which has been revised so that it can be compatible with the changes that have occurred in various fields regionally and internationally.

"This policy guided by the slogan that says "Competitive Business in stimulating the Speed of Social and Economic Change led by Industry" is expected to be officially launched on Tuesday 30, 2024 in Dar es Salaam," he said.

He said the official guest at the launch of the Policy is deputy prime Minister Dr. Doto Biteko adding that the event will also be attended by 300 participants that include various stakeholders from Public Institutions, Private Institutions, Religious Organizations, Development Partners, Ambassadors, Business Associations and Industrialists and traders.

"After independence in 1961, all economic activities, including business, were largely run by the private sector. After the announcement of the Arusha Declaration in 1967, Economic Activities, including general businesses, exports, and imports were run by Public Institutions," he said.

He said that to adapt to these changes, in 2003, the Government formulated the National Business Policy to increase efficiency, expand and integrate domestic production, and create a competitive environment in the export sector as one of the ways to stimulate economic growth.

"In the analysis carried out on the implementation of the policy, it was noted that the policy, along with other things, has enabled the expansion of markets and thus enabled the strengthening of domestic trade and the increase of Tanzania's sales in regional and international markets," he said.

Jafo said through the implementation of the National Business Policy of 2003, the Government has successfully participated in various inter-State, Regional, and International trade discussions to increase more opportunities for trade in goods and services from Tanzania, including finding markets with concessional terms for Tanzanian businessmen.

"Those opportunities include the ones that come from the East Africa Community EAC, SADC, AfCFTA market, China market (to sell products without paying duty or limit for 98 percent of all products from Tanzania), India, AGOA (to sell more than 6,400 products without duty), the European Union (selling everything except weapons, in general, this trade growth has enabled the contribution of trade in the National GDP to reach 8.3 percent in 2023," he said.

He said that through these opportunities, sales to the East African Community have increased from 1.12tr/- in 2016 to 3.022tr/- in 2023, an increase in exports to the Southern African Community from 2.607tr/- in 2016 to 4.422tr/- in 2023 and an increase in exports to European Union from 0.605tr/- in 2016 to 3.835.65tr/- in 2023.

He said the products produced in bulk include agricultural products, especially coffee, tea, corn, wheat, rice, and vegetables industrial products including tiles and cement, and other products such as minerals, mosquito nets, soap, and lubricating oil.

He said that since the formulation of the National Business Policy in 2003, there have been various changes in the field of National, Regional, and International business such as the emphasis on the construction of the industrial economy and business development, and the establishment and expansion of the East African Community.

He said the various measures to build cooperation that were achieved were the implementation of the Trade Protocol of the countries of the Southern African Development Community (SADC), the development of various trade relations between Tanzania and other friendly countries, and the establishment of the African Free Trade Area (African Continental Free Trade Area - AfCTA).