Tanzania could serve as the primary entry point for Russian products into the African market

Speaking at the Russia-Tanzania business forum on Tuesday, October 29th, Russian Economic Development Minister Maxim Reshetnikov highlighted Tanzania's strategic coastal location on the Indian Ocean, positioning it as an ideal entry point for Russian products into the African market and a key player in the development of the North-South transport corridor.

The forum marks the first official visit of a Russian delegation to Tanzania for the inaugural meeting of the bilateral intergovernmental commission.

“We have identified strategic priorities, starting with logistics. Tanzania’s advantageous geographic location on the Indian Ocean coast, along with its connections to other African nations, presents significant opportunities for Russia. Tanzania could serve as the primary entry point for our products into Africa and play a central role in establishing the North-South transport corridor. Conversely, Russia could provide Tanzania with access to the Eurasian Economic Union market,” Reshetnikov explained.

Reshetnikov also pointed to strong potential for energy cooperation, including peaceful atomic energy applications, renewable energy construction, and mineral resource extraction.

Other focal areas include agriculture, pharmaceuticals, economic digitalization, urban development, and tourism. “We are open to addressing these topics and resolving banking and settlement issues together,” he said.

Russia is additionally keen on joint social projects in education, science, and healthcare, Reshetnikov added.

(Source: https://thechanzo.com/2024/10/30/tanzania-and-russia-elevate-diplomatic-ties-with-a-new-commission-on-trade-and-economic-cooperation-heres-what-it-means-to-both-countries/)