President Samia Suluhu Hassan and Ugandan President Yoweri Museveni shortly after the latter landed at the Julius Nyerere International Airport in Dar es Salaam. PHOTO | STATE HOUSE
Dar es Salaam. Tanzania and Uganda yesterday agreed to remove non-tariff barriers to trade between East African countries.
In their discussion shortly after Ugandan President Yoweri Museveni arrived in the country and received by his counterpart, Samia Suluhu Hassan, the two Heads of State in command agreed to end existing trade barriers in a bid to strengthen ties. Speaking shortly after the private talks, President Hassan said there were none-tariff impediments that had hampered trade activities between the two countries and explained that they had already agreed to end them.
“We have instructed the ministers in charge of trade to meet within two months and find a solution to the issue,” said President Hassan.
Also, the two Heads of State discussed the need to strengthen trade cooperation which for over the past seven years has continued to grow between the two countries.
President Hassan said the volume of trade between Tanzania and Uganda has increased from Sh200 billion in 2014 to Sh607 billion in 2020.
“So during our talks we agreed on how to promote trade and investment between our two countries. These countries still have many trade and investment opportunities, especially in the industrial, agricultural, fisheries, social services, and tourism and transportation sectors,” she noted.
President Hassan said they have discussed cooperation in the investment sector, saying that Uganda has the second largest investment in Tanzania in the East African region.
Uganda has invested a total of 45 projects worth $114 million which have provided employment to 2,150 Tanzanians. In addition there are various Tanzanian companies in Uganda. “We have agreed that there is a need to commend investment and urge our investors to invest in our countries by assuring them of the security of their investments,” she said.
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