TZ to draw growth lessons

DAR ES SALAAM: SINGAPORE President Tharman Shanmugaratnam arrived in the country yesterday for a State Visit starting today where he will today be officially received at State House in Dar es Salaam by his host, President Samia Suluhu Hassan. The two leaders will hold official talks aimed at strengthening cooperation between Tanzania and Singapore in various areas, particularly trade, investment, human capital and skills development, as well as the digital economy. The discussions will be followed by the signing of bilateral agreements and cooperation instruments between the two countries, as well as a joint press conference. President Shanmugaratnam, accompanied by his host President Samia, will participate in the Tanzania-Singapore Business Forum at the Julius Nyerere International Convention Centre (JNICC) in Dar es Salaam. The Forum will bring together public and private sector leaders from both countries to discuss new opportunities for trade, investment and economic cooperation. In addition, President Shanmugaratnam will deliver an Open Lecture at the University of Dar es Salaam (UDSM) on the theme “Investing in the drivers of inclusive growth,” President Shanmugaratnam will tomorrow visit Zanzibar, where he will hold talks with the President of Zanzibar, Dr Hussein Mwinyi, before returning to Dar es Salaam and departing Tanzania upon the conclusion of his visit. Analysts hailed President Shanmugaratnam’s three-day State Visit to Tanzania as a strategic window for the country to unlock massive trade and investment ties and draw blueprint lessons from one of Asia’s greatest economic miracles. “Given that Tanzania is an agricultural economy, collaboration with Singapore can help modernise production through mechanisation and increase exports of processed agricultural products,” he said. Prof Moshi also suggested expanding the use of local currencies in bilateral trade to facilitate transactions and promote stronger commercial ties. He said deeper cooperation could enable Tanzania to access advanced technologies in electronics, solar and wind energy while increasing exports and diversifying its economy. Business and entrepreneurship expert, Dr Sylvester Jotta of Saint Augustine University of Tanzania (SAUT) said the government should also leverage Singapore’s expertise in tourism and hospitality. Despite its limited natural resources, Singapore has built a globally competitive tourism industry through strategic planning, efficient infrastructure and quality service delivery, he noted. Dr Jotta observed that both countries occupy strategic geographic positions, with Tanzania serving as a gateway to Eastern and Southern Africa and Singapore connecting Southeast Asia and the Asia-Pacific region. ALSO READ: Tanzania, Singapore boost cooperation during historic state visit “This strategic advantage can be harnessed to strengthen trade, tourism and the wider service sector, including accommodation, conferences and entertainment,” he said. He added that stronger relations with Singapore could help expand tourism beyond Dar es Salaam, Arusha and Zanzibar to other regions with untapped potential. On trade, Dr Jotta said Tanzania could increase exports of critical minerals such as graphite, lithium and nickel, which are essential for advanced manufacturing and digital technologies, while also supplying agricultural products including cassava and potatoes. Singapore’s economy relies heavily on exports and value-added manufacturing, with key sectors including electronics, petroleum refining, chemicals, engineering and biomedical sciences. President Shanmugaratnam arrived in the country yesterday to begin his three-day State Visit, which is highly anticipated to break new ground in bilateral cooperation, trade and economic development. The post TZ to draw growth lessons first appeared on Daily News . The post TZ to draw growth lessons appeared first on Daily News .