Home   »   'India, Tanzania to sign 15 agreements...   »   'India, Tanzania to sign 15 agreements...

‘India, Tanzania to sign 15 agreements with eye on USD 10 billion trade’

India and Tanzania are set to boost their bilateral cooperation as Tanzanian President Samia Suluhu Hassan visits India after an eight-year gap. The visit aims to elevate their relations to a strategic partnership and enhance trade and investment ties. Tanzanian Foreign Minister January Yusuf Makamba anticipates the signing of 15 agreements covering various areas of cooperation.

Elevation to a Strategic Partnership

  • Tanzania considers the visit crucial, with expectations of elevating bilateral relations to a strategic partnership.
  • Key focus on enhancing trade and investment ties.

Key Agreements and Areas of Cooperation

  • Expectations of 15 agreements spanning government-to-government and private sector collaborations.
  • Potential announcement of an extension of an Indian-assisted water project in Tanzania.
  • India’s substantial contribution of USD 1 billion for water projects in Tanzania.

Business Forum and Bilateral Trade Goals

  • Tanzanian President to address a business forum in New Delhi.
  • Aiming to sign new deals and partnerships between Tanzanian and Indian companies.
  • Objective: Enhance trade volumes and expand bilateral trade to USD 10 billion in the next three years.

Trade Settlement in National Currencies

  • Appreciation of India’s initiative for trade settlement in national currencies.
  • Benefits include favorable exchange rates and preservation of foreign exchange reserves.
  • Technical details being worked out to facilitate increased trade.

Defense Cooperation

  • Defense cooperation a pillar of the strategic partnership.
  • Collaboration includes capacity building, training, technology transfer, joint patrols, and military exercises.
  • Specific equipment needs of Tanzania to be determined in later discussions.

Official Visit Itinerary

  • Tanzanian President to receive a ceremonial welcome at Rashtrapati Bhawan.
  • Followed by an in-depth bilateral dialogue with Prime Minister Narendra Modi.

Location and Geography

Tanzania is an East African country known for its diverse geography, wildlife, and culture.

  • Size: Largest country in East Africa
  • Capital: Dodoma
  • Language: Swahili and English
  • Government: Presidential republic
  • Independence: 1961
  • Economy: Agriculture, mining, and tourism
  • Currency: Tanzanian Shilling
  • Religion: Christianity and Islam
  • Wildlife: Tanzania is home to iconic animals like lions, elephants, and giraffes
  • Tourism: Tourism is a significant industry in Tanzania, attracting visitors for safaris, trekking, and cultural experiences

Find More International News Here

'India, Tanzania to sign 15 agreements with eye on USD 10 billion trade'_4.1

Escalation in Nagorno-Karabakh Conflict: Azerbaijan Launches Military Operation_120.1