Industry Optimistic Trade Barriers With Tanzania Could be Addressed

Industry has today expressed optimism that the current trade barriers being experienced while trading with Tanzania could be addressed as long as there is strong political will from both Governments while the Business Community plays its role, KAM Chief Executive Ms. Phyllis Wakiaga has said.

She made these remarks at the Kenya-Tanzania Business forum held yesterday during the state visit to Kenya by H.E. Jakaya Kikwete, President of the United Republic of Tanzania. According to Industry the forum provided a good platform for candid deliberations and way forward on the key issues of concern to industry affecting trade with Tanzania.

“There is need to strengthen regional trade and investment and address the challenges affecting industry within the region. Some priority areas include the elimination of Non Tariff Barriers (NTBs) for the free movement of goods, ensuring the free movement of labour by streamlining the issuance of work permits and implementation of the EAC Industrialisation Policy and Strategy, ” said Ms. Wakiaga.

Giving his keynote address, H.E. Uhuru Kenyatta lauded the close working relationship between Kenya and Tanzania and called for more engagement and dialogue in addressing the issues that are ailing investment. “The current trade statistics are not a true reflection of the potential that exists. More can be done. Our countries are both innovative and entrepreneurial and business men are hungry for both markets,” said H.E. Kenyatta.

He called for the need to let capital and talent cross borders freely and through this trade between the countries will more than triple. He reiterated that Integration is driven largely by international trade and investment and there is dire need to Identify and overcome barriers in deepening integration. He called on the business community to play its role even as Government works to deliver good policies and the right infrastructure. “Business should be committed to the region, to innovation and compete hard and fairly and be sensitive to issues of concern to respective countries,” he added.

H.E. Kikwete  echoed these sentiments saying Tanzania and Kenya can absorb more investment opportunities from each other. He made mention of the measures the Government of Tanzania is taking to improve the business environment through the “Big Results Initiative”.  The blueprint identifies the key constraints of doing business in Tanzania and clearly defines the set of interventions to resolve the challenges.

Representatives from KenInvest, Vision 2030 and LAPSSET highlighted on the investment opportunities available in Kenya. Massive opportunities exist in the areas of infrastructure, energy, tourism, agriculture, building and construction, manufacturing, ICT, banking and finance.

The Tanzania delegation led by  the Permanent Secretary, Ministry of Trade and Industry, Mr. Uledi Musa gave an elaborate presentation on business reforms and opportunities available in Tanzania. Areas of ongoing reforms mentioned include: Online business registration; Review of laws and regulations with the view of rationalizing them; Reforms in the area of land to ensure the registration procedure is streamlined and the Establishment of industrial parks that will be accessible to all investors.

Opportunities were noted to exist in the following sectors among others: commercialized agriculture, Hospitality, Healthcare, ICT sectors and the Energy sector in the area of power generation through gas, wind and solar.

Businesses expects more industry friendly directives from the Government bilateral engagements that took place during the president’s visit.