M a r k e t N e w s

Tanzania: India Pledges Additional Funding to Support Priority Sectors

Posted on : Tuesday, 12th July 2016

Indian Prime Minister Narendra Modi has said his country is willing to provide additional funding to the tune of over 1 trillion/- to support priority sectors in Tanzania. Police have warned that people who intend to disrupt the Special CCM National Congress planned for Dodoma late this month would face punitive action.

Indian Prime Minister Narendra Modi ended his two-day visit in the country yesterday afternoon amid hopes of invigorated economic ties between the two friendly countries.
In his address at the State House in Dar es Salaam yesterday, the visiting Premier said his country would deepen cooperation with Tanzania, adding that he shared President John Magufuli's nation building vision.
Mr Modi noted the two countries were working on a number of water projects for 17 cities in Tanzania. "For this, India is considering giving an additional USD 500 million US dollars (over 1 trillion/-) line of concessional credit," he said.
Speaking at a joint press conference with his Tanzanian counterpart, after a meeting with Dr Magufuli at State House, Mr Modi said: "President Magufuli has a vision for nation building, development and industrialisation, a vision that is my dream for India too".
Describing public health as another important area of bilateral engagement, Mr Modi said India was ready to meet costs of healthcare priorities of the Tanzanian government, including supply of medicine and equipment.
"I am told that an Indian radiotherapy machine is being installed at Bugando Medical Centre to treat cancer patients," he noted. The Premier noted further that during his meeting with President Magufuli, they held discussions on the full spectrum of bilateral partnership.
"Our focus was to shape an action oriented agenda of cooperation, so that we talk less of potential and more of achievements on the ground. "We agreed that our common desire of economic prosperity for our societies is creating new opportunities for expanding our cooperation," he said.
To achieve this, the two nations agreed to deepen partnership in agriculture and food security, including through enhanced export of legumes from Tanzania to India.
They also decided to work together in development and use of natural gas. India agreed to partner with Tanzania in building of industrial economy, capacities and institutions.
The two leaders also decided to deepen bilateral trade and investment partnership by encouraging industrial ties. While highlighting the economic partnership between the two countries, Mr Modi said, the India-Tanzania two-way annual trade stands at about 3bn US dollars (Over 6tri/-).
He assured Dr Magufuli that Indian companies will continue to invest in the country. The two countries agreed to work closely in combating the twin threats of terrorism and climate change.
"Being neighbours across the Indian Ocean, President Magufuli and I agreed to deepen our defence and security partnership, especially in the maritime domain, said the Indian PM after the bilateral talks at State House.
President Magufuli said that during his meeting with the Indian leader and his delegation, they also agreed to deepen overall defence and security partnership, especially in the maritime domain.
Dr Magufuli further said the two leaders agreed to strengthen bilateral ties between the two countries on the Information and Communication Technologies (ICTs). "I am glad that India has agreed to help us in training so that our country can be able to create its own programmes instead of waiting for services from outside", the president said.
On Industries, Dr Magufuli said India had agreed to work together on the industrial and mineral sectors and that the cooperation between the two countries would help the country to achieve its dream of becoming a middle income economy by 2025.
"Tanzania is endowed with abundant minerals and we are glad that we have also enough gas including the recent discovery of helium in our country. We have agreed with Mr Modi to work together on these sectors on a win-win situation so that all countries can rip benefits," the president explained.
He said that in a bid to reduce the cost of purchasing drugs and equipment in the health sector, the two leaders agreed to work together, whereas the Indian Prime Minister agreed to help Tanzania to put up pharmaceutical industries.
"We have been spending 80 per cent of the health budget to procure drugs and almost 100 per cent of our equipment in the health sector is procured from abroad," he noted.
On the area of business, Dr Magufuli said trade volume from Tanzania to India had grown from 187 million US dollars in 2009 to 1.29bn US dollars in 2015. Tanzania and India also agreed to deepen their partnership in agriculture and food security and work together in other productive sectors.
According to the Indian PM, education, vocational training and skill development were other areas of priority where India was willing to offer all assistance.
President Magufuli thanked the Indian Prime Minister for visiting Tanzania, saying his decision to visit the country was a great honour. Mr Modi arrived in Tanzania on Saturday night from South Africa on the third leg of his four-nation tour of Africa.
He extended an invitation to Dr Magufuli to visit India. "I look forward to welcoming President Magufuli in India at the earliest possible opportunity," he added.
Tanzania, India areas of cooperation Agreements signed
Cooperation between SIDO and NSIC.
Agreement to scrap off visas for diplomats and public servants.
Loans for improvement of water supply in Zanzibar. l Provision of cancer machine at Bugando Medical Centre.
India agrees to support production and export of Tanzania legumes.
Establishment of assembly plants for auto-rickshaws (bajaji), motorcycles, tractors.
Support to Tanzania in Information and Communications Technology (ICT).
Establishment of pharmaceutical industries. l Enter into Win-win partnership in energy and minerals sector.

Source : allafrica.com
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