Dar es Salaam. A powerful shift is taking place in Tanzania. The country, known for its rich cultural heritage and vibrant natural resources, is on the cusp of becoming a major player in global trade and investment.
As the world’s economic landscape evolves, Tanzania is seizing the moment with an ambitious agenda to foster economic growth and improve its competitiveness on the global stage.
The stage was set on Thursday at the Annual Trade and Investment Dialogue 2024, a gathering that attracted more than 400 business leaders, policymakers, and development partners.
The event was more than just a series of speeches; it was an urgent conversation about the future of Tanzania’s economy, where the private sector already contributes 33 percent to the Gross Domestic Product (GDP) and provides over 80 percent of formal employment, according to the World Bank.
At the heart of the dialogue was a clear message: to unlock the true potential of Tanzania’s economy, the government and the private sector must work hand-in-hand, breaking down barriers and building opportunities for sustainable, inclusive growth.
This partnership was emphasized by Dr Doto Biteko, the Deputy Prime Minister, who addressed the crowd as the event’s Guest of Honor.
“Tanzania’s trade potential is vast, but unlocking it requires a deliberate partnership between the private sector and government,” Dr Biteko, who also doubles as the Minister for Energy said with conviction.
He went on to add: “Our vision is to position Tanzania as a trade and investment hub by creating an environment that promotes industrialization and sustainable, inclusive growth.”
The Deputy Prime Minister’s words were not just rhetoric, but a clear statement of intent.
The launch of the publication Private Sector’s Perspective on Tanzania’s Business and Investment Climate was one of the key moments of the day, setting the tone for future policy advocacy and providing a roadmap for trade reforms.
This guide, based on evidence and private-sector insights, is expected to play a pivotal role in shaping Tanzania’s business landscape for years to come.
But the event didn’t just focus on what Tanzania could achieve.
It confronted the challenges that have held the nation back for so long — inefficiencies in dialogue mechanisms, structural roadblocks, and export competitiveness.
One of the most striking points discussed was Tanzania’s 14 percent share of the East African export market, a statistic that highlighted both the potential for growth and the obstacles that must be overcome.
While the country has made strides, it’s clear that more needs to be done to increase exports, improve trade efficiency, and break down the barriers that restrict access to global markets.
For Oscar Kissanga, the Executive Director of the Tanzania Chamber of Commerce, Industry, and Agriculture (TCCIA), the private sector plays a vital role in the country’s economic future.
“The private sector is at the heart of economic stability and job creation,” he said.
Adding: “This dialogue is crucial for aligning strategies that unlock the full potential of Tanzanian businesses, enhance export competitiveness, and empower regional chambers to tackle local challenges.”
Tanzania’s future hinges on its ability to not only empower local businesses but also build stronger regional relationships.
The dialogue’s discussions were filled with insights into how the country can tap into broader regional and global trade networks, with a particular focus on TradeMark Africa’s (TMA) role in dismantling trade barriers and promoting intra-regional trade.
“The partnership between government, business, and regional actors is key,” said Mr Elibariki Shammy, TMA’s country Director for Tanzania.
“By addressing trade barriers and promoting intra-regional trade, we’re not only opening up new markets for Tanzanian businesses but also creating a competitive environment where local businesses can thrive and contribute to a stronger, more integrated East Africa.”
In a country where trade accounts for 20 percent of the GDP, improving export competitiveness is a matter of national urgency.
The dialogue was not just a meeting of minds; it was a call to action.
The discussions explored how to create a smoother business environment through infrastructure improvements, policy reforms, and investment in technology.
It became clear that there is no time to waste if Tanzania is to transform its potential into economic prosperity.
But the story doesn’t end there.
The event also served as a platform for exhibitions, showcasing local innovations, giving entrepreneurs the chance to demonstrate the creative solutions that could fuel the next phase of Tanzania’s economic growth.
As business leaders and government officials exchanged ideas, the focus was squarely on actionable recommendations — the kind that would drive change.
By the end of the day, the dialogue had brought together not only insights but also tangible steps to strengthen Tanzania’s position in global trade.
Regional chambers of commerce were encouraged to take on a more proactive role in addressing local challenges, while new pathways were created for businesses to tap into global markets.
Tanzania’s vision for the future is clear: a thriving economy built on industrialization, sustainable growth, and global competitiveness.
The dialogue has laid the groundwork for a more connected and efficient trade ecosystem, where public-private collaboration is the key to unlocking a future of prosperity for all Tanzanians.
As the sun set over Dar es Salaam, one thing was certain: the story of Tanzania’s rise as a trade hub is just beginning, and the world is watching.
