Tanzania has reaffirmed its commitment to strengthening economic cooperation with China through the Belt and Road Initiative, with a focus on strategic projects in transport, energy, communications and infrastructure designed to boost economic growth, expand trade and investment opportunities, and improve citizens' livelihoods. The commitment was made at the Belt and Road Initiative Forum in Nairobi, Kenya, where Deputy Permanent Secretary in the Ministry of Finance Asha Khamis Abdulla spoke on behalf of the Finance Minister.
Cooperation between Tanzania and China has created development opportunities in infrastructure, trade, investment and industrial transformation, according to Abdulla. Tanzania regards the BRI as an important platform for strengthening economic and financial cooperation among countries while promoting sustainable and inclusive development aligned with national development priorities. Abdulla highlighted the longstanding relationship between the two countries, built on mutual respect, trust and solidarity, and said this foundation has continued to strengthen cooperation across infrastructure, trade, investment, energy and industrial transformation.
Tanzania plans to continue working with China and other countries to implement development projects aligned with national priorities and the goals of Development Vision 2050, with the aim of improving productivity, stimulating economic growth and enhancing citizens' welfare, Abdulla said. In a related initiative, Tanzania, in partnership with Zambia and China, is pursuing plans to revive and upgrade the Tanzania-Zambia Railway Authority through a public-private partnership arrangement. Completion of the TAZARA project is expected to improve transport efficiency, reduce freight costs and facilitate regional trade, thereby stimulating economic activity and strengthening market connectivity across Southern Africa.
For businesses and investors in Tanzania, deepened infrastructure cooperation with China could create new trade routes and reduce transport costs, while for savers and borrowers, improved productivity and economic growth may influence future interest rates and lending conditions.