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Tanzania Surpasses Nigeria to Become India's Second-Largest Trading Partner on Continent
Tanzania Surpasses Nigeria to Become India's Second-Largest Trading Partner on Continent
Sputnik Africa
In October, Tanzanian President Samia Suluhu Hassan met with Indian Prime Minister Narendra Modi in the Indian capital of New Delhi. During the meeting, they... 30.05.2024, Sputnik Africa
2024-05-30T17:26+0200
2024-05-30T17:26+0200
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Tanzania has surpassed Nigeria to become India’s second-largest trading partner on the continent after South Africa, the Tanzanian newspaper The Citizen reported.The High Commission of India in Dar es Salaam disclosed that in the past fiscal year, Tanzania-Indian trade grew by 22%, as per the newspaper.The bilateral trade value between the nations reportedly rose from $6.48 billion in 2022/23 to $7.9 billion in 2024, as of May 27.Tanzania mainly exports agricultural products to India, including pigeon peas, avocados, and cashew nuts, and imports petroleum products, industrial machinery, and automobiles, among other items, from India, the outlet said.The Tanzanian president and Indian prime minister met in New Delhi in October to talk about strengthening bilateral relations in defense, trade, investment, maritime security, and other areas. During the meeting, the two states indicated a desire to enhance bilateral trade using local currencies.
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Tanzania Surpasses Nigeria to Become India's Second-Largest Trading Partner on Continent
17:26 30.05.2024 (Updated: 18:11 30.05.2024) In October, Tanzanian President Samia Suluhu Hassan met with Indian Prime Minister Narendra Modi in the Indian capital of New Delhi. During the meeting, they discussed the reinforcement of bilateral relations in fields of defense, trade, investment, maritime security, and others.
Tanzania has surpassed Nigeria to become India’s second-largest trading
partner on the continent after South Africa, the Tanzanian newspaper The Citizen reported.
The High Commission of India in Dar es Salaam disclosed that in the past fiscal year, Tanzania-Indian trade grew by 22%, as per the newspaper.
The bilateral trade value between the nations reportedly rose from $6.48 billion in 2022/23 to $7.9 billion in 2024, as of May 27.
"The latest trade statistics reveal not only an increase in the volume of bilateral trade but also an improvement in the trade balance," the commission's statement read.
Tanzania mainly exports agricultural products to India, including pigeon peas, avocados, and cashew nuts, and imports petroleum products, industrial machinery, and automobiles, among other items, from India, the outlet said.
The Tanzanian president and Indian prime minister met in New Delhi in October to talk about strengthening bilateral relations in defense, trade, investment, maritime security, and other areas. During the meeting, the two states indicated a desire to enhance bilateral trade
using local currencies.
