Secy Dammu Ravi concludes visit to Tanzania; discusses trade in local currency
Oct 08, 2022
New Delhi [India], October 8 : Secretary (Economic Relations) Dammu Ravi in the Ministry of External Affairs during his visit to Tanzania held discussions on exploring possibilities of opening an Indian SEZ (Special Economic Zone) in Tanzania and bilateral trade in local currency.
"In the meeting with his Finance Ministry counterpart, Secretary (ER) Ravi discussed a range of issues including development cooperation, alternative ways of financing projects, exploring possibilities of opening an Indian SEZ in Tanzania and bilateral trade in Indian Rupees and Tanzanian Tshilling," an MEA press release read.
Dammu Ravi visited Tanzania on October 6-7, 2022. During the visit, he met with high-ranking officials including ambassador Joseph Edward Sokoine, Permanent Secretary in the Ministry of Foreign Affairs and East African Cooperation, and Emmanuel M. Tutuba, Permanent Secretary in the Ministry of Finance and Planning on Thursday, in Dar es Salaam.
On Friday, Secretary (ER) visited Zanzibar where he called on the President of Zanzibar. During his meeting with Permanent Secretary Ambassador Sokoine, comprehensive discussions were held on the India-Tanzania bilateral relations.
The Tanzanian side welcomed the ideas and both sides agreed to work on these.
Secretary (ER) also addressed a business event at the High Commission of India where he interacted with about 85 entrepreneurs and CEOs of Indian and Tanzanian companies. Prominent members of the Indian diaspora also attended the event.
During his visit to Zanzibar on Friday, Secretary (ER) called on Hussein Ali Mwinyi, President of Zanzibar. The Zanzibar President welcomed the Indian development cooperation in Zanzibar and invited Indian investment in various sectors including IT, the blue economy and healthcare on the island.
Secretary (ER) also visited a project site under construction to supply water to Zanzibar's households. Three Indian companies are presently implementing water supply projects in Zanzibar under the Government of India Lines of Credit.
Tanzania is one of India's major development assistance partners in Africa with over USD 1.1 billion Lines of Credit and 700 annual scholarships for short-term and long-term courses. Bilateral trade stands at USD 4.5 billion for 2021-22 and Indian investment in Tanzania is USD 3.6 billion.
