Dar-Kenya trade scales East Africa high

Dar-Kenya trade scales East Africa high

Posted on :Thursday , 22nd October 2015

 Addressing the Kenya’s National Assembly in the capital, Nairobi, President Kikwete said the growth in trade between the two countries demonstrated how much the two countries’ contribution is critical to the greater EAC integration agenda.

 
“I am told trade between our two countries accounts for over 80 to 90 per cent of trade in the EAC market. This demonstrates in no uncertain terms how much our two countries are critical to the EAC integration agenda,’’ he told the attentive assembly.
 
Mr Kikwete observed how important it was, therefore, for the two countries to forge closer and stronger cooperation in investments and trade, not only in their own best interest, but also in the best interest of the EAC.
 
He added that what the two countries have accomplished was just a tip of the iceberg out of what they stand to achieve together. The Tanzanian leader noted that the two countries have developed strong bonds of cooperation, stressing that for Tanzania, “Kenya is not a competitor but a strategic partner’’.
 
He said Kenya ranked fifth among top ten countries with the largest investments in Tanzania, after the United Kingdom (UK), United States of America (USA), China and India -- being the only leading African nation in the list followed by South Africa.
 
According to the president, Kenya’s investments in Tanzania accounted for 518 projects with a total value of 1.685 US billion dollars, creating 55,762 jobs. “Kenya is Tanzania’s largest trading partner in the EAC; trade between the two countries has been growing very fast. In the last five years alone, trade has increased by 40 per cent.
 
Tanzania’s exports to Kenya have increased from 179.3 million US dollars in 2009 to 227.1 million US dollars in 2013. Imports from Kenya have increased from 301.5 million US dollars to 333.6 million US dollars in the same period of time,” he explained.
 
The president said he had assured Kenya and the Tanzania Business Forum that Tanzania is ready to do more business with Kenya, stressing that the country can absorb more investments from Kenya, as opportunities are plenty in the sectors of oil and gas, energy, mining, transport, agri-business, manufacturing, ICT, health, education and many more.
 
“Moreover, the business environment is both conducive and permissive, investment are safe in Tanzania, no fear of nationalisation while investors are allowed to repatriate the profit and dividends.
 
The president noted that Tanzania has always believed in African unity and East African economic and political integration, noting that a divided East Africa will not be able to claim its rightful place and compete effectively in the regional and global market place.
 
“Tanzanian’s commitment to EA integration is unwavering. We will do everything within our power to see that the EA integration agenda is implemented to the letter. It is pleasing to note that the same understanding is shared by you -- our Kenyan brothers and sisters,” he told the House.
 
He said there has been vibrant cooperation in the socio-economic front of the two countries, including undertaking joint infrastructure projects. Mentioning a few from a long list, President Kikwete said one of the projects is the Athi River-Namanga-Arusha Road completed in 2012, in which the two countries pitched for funding support together from the African Development Bank (AfDB) and the Japanese Government and implemented it as one project.
 
Mr Kikwete also talked about regional partnerships in power supply. “Secondly, we are building a 400KV power transmission line, from Tanzania to Namanga where the Tanzania electricity grid will be connected to the Kenyan grid.
 
He pointed out that electricity from Tanzania will be made available to Kenya and vice-versa this way. Our two countries are now discussing way to extend the gas pipeline to the Kenyan side to enable Kenya to produce power from a cost effective source,” he explained.
 
The Tanzanian leader also touched on the subject of terrorism, drugs and cross-border crime, saying his country supported Kenya’s efforts in fighting terrorism. He noted that Tanzania’s intelligence and the police force have been working with Kenya through information- sharing and arresting suspected terrorists fleeing to Tanzania after committing terrorism attacks in Kenya.
 
Meanwhile, Kenya has a huge debt to President Jakaya Kikwete from the long-standing friendship and close relationship between the two countries, President Uhuru Kenyatta has said.
 
President Kenyatta has revealed that once Tanzania starts exporting gas, his country will be among buyers of the commodity. The government will launch use of gas in Mtwara on Sunday.
 
President Kenyatta made the remarks on Monday evening during a state banquet held in honour of President Kikwete’s visit to Kenya. “We have been friends for a long time; today we are bidding farewell to a very important and long-time friend to Kenya. We are proud to be with you and we are indebted to Tanzania from this relationship,” President Kenyatta said.
 
Speaking at the event, President Kikwete has assured Kenya that there will not be any changes in policies with regard to the two countries’ relationship even after he leaves office. In another development, President Kenyatta has renamed Mlimani Road near the State House in Nairobi Jakaya Kikwete Road.
 
The road’s renaming is also Kenya’s birthday gift to President Kikwete who turns 65 today.

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