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\nDeals aim to boost investment, trade and investor confidence
\nTurkey supports Tanzania infrastructure projects, including\u00a0$1.9 billion railway financing
<\/p>\n
Tanzania and Turkey have signed agreements to eliminate double taxation and prevent income tax evasion, a move expected to boost bilateral investment and trade, local media reported on Tuesday.<\/p>\n
The agreements are expected to strengthen investor confidence by removing the risk of income being taxed in both countries.<\/p>\n
Tanzania\u2019s Finance Minister Mussa Omar said the objective was to turn political commitments into concrete trade and investment outcomes, with the two countries aiming to reach\u00a0$1 billion in bilateral business.<\/p>\n
Omar said a joint commission would oversee implementation of the agreements, identify new areas for cooperation and deepen collaboration in sectors including industry, agriculture, tourism, energy and skills development.<\/p>\n
He added that although Tanzania and Turkey signed a bilateral investment treaty in 2011, the absence of a double taxation agreement had remained a missing element in economic ties between the two countries.<\/p>\n
According to Omar, the new agreements send a positive signal to Turkish investors as Tanzania seeks to position itself as a more attractive destination for foreign capital.<\/p>\n
Relations between Tanzania and Turkey have strengthened in recent years, particularly after Tanzanian President Samia Suluhu Hassan visited Ankara in 2024.<\/p>\n
According to data from the Observatory of Economic Complexity (OEC), Turkish exports to Tanzania totaled nearly\u00a0$251 million, led by pesticides, crude iron bars, and cereal flour and pellets.<\/p>\n
Tanzania\u2019s exports to Turkey mainly included unprocessed tobacco, fishing vessels and heavy construction equipment.<\/p>\n
Turkey is also supporting infrastructure development in Tanzania, including the Standard Gauge Railway (SGR), with financing worth\u00a0$1.9 billion from Turkey\u2019s export credit bank, T\u00fcrk Eximbank.<\/p>\n
Tanzania has launched several reforms aimed at improving the business climate, including streamlining company registration procedures, digitizing tax and customs systems, and reforming land, labor and commercial dispute resolution frameworks.<\/p>\n
Lydie Mobio<\/p>\n","protected":false},"excerpt":{"rendered":" Deals aim to boost investment, trade and investor confidence Turkey supports Tanzania infrastructure projects, including\u00a0$1.9 billion railway…\n","protected":false},"author":2,"featured_media":224742,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[6448,40148,19508,23885,6649,1424,152,2247],"class_list":{"0":"post-224741","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tanzania","8":"tag-agreements","9":"tag-bilateral","10":"tag-billion","11":"tag-countries","12":"tag-including","13":"tag-investment","14":"tag-tanzania","15":"tag-turkey"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@africa\/116538554600404461","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/224741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/comments?post=224741"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/224741\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media\/224742"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media?parent=224741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/categories?post=224741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/tags?post=224741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}