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Home / India News / 2007 / May 2007 / May 18, 2007
Indo-Tanzania trade increases by whopping 199 million dollars
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Indo-Tanzania trade increases by whopping 199 million dollars

Two-way trade between India and Tanzania has more than doubled in the last five years - having gone up from 166 million dollars in 2001-02 to almost 360 dollars in 2005-06.

New Delhi, May 18 : Two-way trade between India and Tanzania has more than doubled in the last five years - having gone up from 166 million dollars in 2001-02 to almost 360 dollars in 2005-06.

Minister of State for Commerce Jairam Ramesh, during his meeting with Tanzanian Industry Minister Basil P Mramba, expressed New Delhi's desire for further expansion and diversification of bilateral trade and investment with Dar es Salaam.

India's exports to Tanzania were valued at around 240 million dollar and India's imports from Tanzania were 119 million dollars in 2005-06.

According to both ministers, the countries can have close ties in agriculture, pharmaceuticals, transport equipment, electrical machinery, construction material or machinery, textiles and garments, ICT (Information Communication Technology) hardware and software.

India is looking for improved collaboration for the import in cashew nuts, cotton, diamonds, and precious stones, timber. Potential also exists for the sourcing of minerals like coal, iron ore, tin, tungsten, platinum, titanium vanadium, nickel, and cobalt from Tanzania.

ANI

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