Tanzania, Burundi eye better trade ties

In a bid to bolster trade relations and enhance business flow, Tanzania and Burundi are committing to strengthening their economic ties through strategic collaborations and diplomatic efforts. The recent meetings in Dar es Salaam between technical teams from both countries signal a proactive approach towards solidifying their partnership. Economic Analyst, Raphael Maganga, sheds light on the efforts being made by the Tanzanian government, under the leadership of President Samia Suluhu Hassan, to revitalize economic diplomacy and reinvigorate relationships with neighboring countries. President Hassan has actively engaged with East African and South African nations not only to reignite diplomatic ties but also to showcase Tanzania's strategic positioning, particularly in terms of its ports and bilateral trade. The aim is to optimize the efficiency and competitiveness of the Dar es Salaam port, making it accessible to all member states. This proactive diplomatic stance is poised to create a conducive environment for robust economic engagements between Tanzania and its neighbors. Collaboration between Tanzania and Burundi has a long-standing history of goodwill in trade, politics, and security. In a recent meeting between the two countries' presidents in Bujumbura, several agreements were signed to foster increased trade and investment activities. The focus of these agreements includes initiatives in the Lake Tanganyika region, such as the construction of cargo vessels to facilitate trade, enhancement of logistics infrastructure, and cooperation in the fishing and mining sectors. Efforts to improve fishing capabilities in Lake Tanganyika will not only boost the fisheries sector but also drive economic growth in both countries. Moreover, Tanzania's advanced refineries offer an opportunity for Burundi to purify and trade its precious metals efficiently. The intent is to create a mutually beneficial partnership that encourages economic development and trade expansion. Addressing past challenges, such as sanctions imposed by Tanzania on Burundi in 2015, is crucial in moving forward. The proactive stance of President Hassan's administration, rooted in a new foreign policy approach, is likely to pave the way for the removal of such barriers. Economic analysts anticipate that the lifting of sanctions will facilitate smoother trade relations and benefit citizens of both countries. Despite political will and high-level agreements, challenges persist at the grassroots level in cross-border trade and movement. Non-tariff barriers continue to impede trade flow and hinder economic progress. While the commitment from top leadership is promising, tangible actions are necessary to address these barriers effectively. The private sector stands to benefit significantly from the removal of such obstacles. The resolve to eliminate non-tariff barriers has already yielded positive outcomes in neighboring countries, such as Kenya, where a significant reduction in barriers has been achieved. This exemplifies the potential for similar progress within Tanzania and Burundi, ultimately fostering a conducive environment for increased trade and investment. The concerted efforts and diplomatic initiatives undertaken by both countries underscore a shared commitment to enhancing economic cooperation and trade relations for mutual prosperity and growth.