Minister Jafo challenges Tanzanian’s Traders, Investors To Tap Global Market Opportunities -

In the Angolan market, Tanzania have been given the opportunity to sell over 6,500 products

By Semaweb Reporter

THE Minister for Industry and Trade, Dr Selemani Jafo, has challenged local businesses and investors to produce quality products so as to take advantage of the competitive market opportunities in over 50 countries worldwide.

Speaking during the opening of the World Competition Day (WCD), the Minister expressed that competition plays key role in ensuring the availability of high-quality products in the market.

“Apart from the domestic market, there’s is a vast market in East Africa, the SADC region and the African Free Trade Area. Within this African market, Tanzanian businesses can trade with more than 50 countries. This is a huge opportunity for Tanzanians and traders,” he said.

He urged entrepreneurs to explore how they can leverage various markets abroad, particularly in Europe, China and Angola.

“For instance, in the Angolan market, we have been given the opportunity to sell over 6,500 products, but our sales have not grown significantly, meaning they do not reflect the reality of the products we have,” he said.

He informed that various countries have so far benefitted from the Angola market expansion. For instance, South Africa has sold products worth over 2.6 billion US dollars (about 5.2tri/- ), which is a substantial amount.” In comparison, Tanzania has reached an average of 85 million US dollars (about 223bn/-).

Dr Jafo added that Tanzania still has a lot of work to do to benefit from the available market. “We have many products to offer.

The Minister expressed gratitude to the Tanzania Ports Authority (TPA) for ensuring the quick handling of cargo for investors and businesses to help speed up their operations.

“The investments made at the Dar es Salaam Port have increased efficiency in cargo handling, which is crucial for ensuring smooth operations of businesses and guaranteeing fair competition,” he said.

He instructed the Ministry’s Permanent Secretary to examine any legal or regulatory challenges hindering businesses from participating in competitive markets and address them promptly.

The Fair Competition Commission Board Chairperson, Dr Aggrey Mlimuka, said that the National Celebration of World Competition Day in Tanzania began 13 years ago but was not given as much weight until the leadership of President Samia Suluhu Hassan’s administration.