EYEGAMBIA

EYING GAMBIA, AFRICA & BEYOND.

We will protect local products in new trade agreement; Tanzania to Britain

The emergence of Brexit which saw the United Kingdom detach itself from the European Union calls for certain core adjustments to be made in terms of bilateral relationships, especially business or trade agreements between respective countries, the EU and the now independent Britain.

With regards to this, the Tanzanian Government has also initiated a trade renegotiation process which will allow the two parties (Britain and Tanzania) to have a second look at the existing agreements in line with East African Community trade protocols and build a consensus on the way forward.

The Tanzanian government made it clear that their terms will prioritize the best interest of the country. “Our focus in the negotiations is more on areas that are most profitable to Tanzania first and foremost,” Deputy Minister for Trade, Stella Manyanya stated.

The parties to the negotiation successfully exempted certain British products from the pact in a bid to protect local products. “For example, our trade relations with Britain currently do not include products such as armaments, and that will continue to be the case under everything but arms protocol,” said Bernard Haule, Director of Trade Investments and Protection in the Ministry of Foreign Affairs and East African Cooperation.

According to data from the trade department, Tanzania has in 2018 sold $60 million worth of goods to the UK against imports of $170 million. The country’s usual exports to Britain includes gold, coffee, cashew nuts, and cotton. This renegotiation will go a long way to shield local companies and products from undue competition by foreigners.

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