TANZANIA and Mozambique have joined forces to strengthen their collaboration in trade and investment, marking significant step towards fostering mutual growth and prosperity.

President Samia Suluhu Hassan revealed this groundbreaking development today July 2, 2024 following an impactful meeting with President Filipe Nyusi, of Mozambique at the State House in Dar es Salaam.

Samia underscored on the need of revamping the deteriorated business relations between the two countries likewise the construction of custom centres that will monitor trade areas.

With the current status, the trade area needs more investment, with the set initiatives, Tanzania Border Crossing of Mtambaswala and another point in Mozambique will emphasize on the trade area, she said.

The Head of State said that the trade value between Tanzania and Mozambique was $57.8m last year which has then dropped to $ 20.1m this year associating it with unofficial transactions in customs as one of the factors behind the drop.

“Tanzania has two investors from Mozambique that have offered 650 employment opportunities in the country, while Mozambique has 16 investors, having such a scenario we have then discussed on adding up a number of investors in both countries.”

Samia underscored cashew nut production as a pivotal area for collaboration between Tanzania and Mozambique symbolizing the potential for shared success and prosperity through joint efforts.

She said the major challenge was the fact that it’s the international market that sets the price, hence the discussion with President Nyusi, was to set local prices that will benefit traders.

For President Samia, the blue economy is another crucial area in which Tanzania and Mozambique are poised to well-positioned to engage in business with neighbouring countries and Africa in general.

According to her, the upcoming Flerimo Presidential candidate after President Nyusi, Daniel Chapo, has chosen Tanzania as the first country to make his state visit.

“He has noticed that Tanzania is his second home and his coming as a presidential candidate its origin comes from the fore fathers of the two nations henceforth. we are happy upon the recognition.”

President Nyusi, in turn, commended Tanzania for its significant role in Mozambique’s journey to independence, a legacy attributed to the late Mwalimu Julius Kambarage Nyerere.

We ought to boost our ties with the available resources we have such as land, energy, rivers and people as well. What is needed is to see ways on how we will utilize the resources, he said.

He further remarked that it’s an opportunity for the two countries to research on ways on improving cashew nut production, a crop that they have for long seem to benefit from it

He also commended the Tanzanian army in fostering peace and security in Mozambique, underlining that Africans should be at the forefront of solving their own problems

The Mozambican leader is expected to officiate at the 48th Dar es Salaam International Trade Fair (DITF) today in the city.