Tanzania is forging
a strong position as a major foreign investment hub in Africa, thanks
to its strategic location as a gateway to six landlocked countries,
membership of multiple economic groups and duty free access to the
largest economies in the world.
I have been
privileged to experience this remarkable progress during my decades of
travelling to Tanzania and I am proud that Expo 2020 Dubai will be a
platform for this inspiring nation to present its own story of
achievements and opportunity to the world.
More than 180
nations, plus many multinational companies, organisations and education
institutions will participate in Expo 2020, while 70 per cent of the 25
million visits are expected to be from outside the UAE, making it one of
the most inclusive World Expos in the event's 166-year history.
Expo 2020's main
theme of 'Connecting minds, Creating the future', has been at the core
of the UAE-Tanzania relationship for centuries.
As our ancestors
collectively strove to better understand each other, whether through
cultural exchange, political agreements or business transactions,
similarly, Expo 2020 aims to collaborate with Tanzania to use this
global platform to achieve its national goals.
For the first time,
each participating country will have its own pavilion - a platform to
express themselves fully, and to create their own connections and
networking opportunities.
Tanzania will have
space to initiate its own hosting of dialogue with other nations,
businesses and organisations, helping to create and deepen relationships
- which could lead to new opportunities or solutions to pressing
problems.
We believe this
global destination will support Tanzania to showcase to the world why it
is one of the fastest growing economies in Sub-Saharan Africa, and how
it is transforming towards a middle-income country, a growth that I have
personally witnessed.
Expo is an ideal
opportunity to attract foreign direct investment, by broadcasting the
advantage that businesses in Tanzania have through quota-free, duty-free
access to massive markets such as China, the US, Japan, South Korea and
Canada, meaning exporting businesses set-up in Tanzania have access to a
significant portion of the global market.
Tanzania's small
and medium-sized enterprises will have the ability to promote themselves
to a receptive global audience, while the country can highlight its
strengthened business environment and legislation that guarantees
foreign investments.
Tanzania and the
UAE already have a long history of trade and diplomatic ties, which we
are continuously deepening. The trade balance between our two nations
has surpassed $2 billion, while through an air transport agreement and a
memorandum of understanding signed last year we are collaborating to
enhance tourism development.
The Abu Dhabi Fund
for Development is also working with Tanzania to implement multiple
crucial development projects, and I have publicly recognised the
potential for Tanzania and the UAE to pursue business and investment
opportunities in priority areas such as agriculture, infrastructure,
energy and tourism, as we continue to build our strategic partnership.
Many UAE-based
companies have already proactively taken advantage of Tanzania's
favourable investment environment, investing in oil and gas exploration,
mining, hospitality, agriculture, tourism and other industries.
I look forward to witnessing and supporting the opportunities that emerge for Tanzania.
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