TANZANIA expects to forge a strong economic links with Spain, in the wake of a forum attended by Carlos Caballero, the Spanish minister for Economy, Trade and Business, and Vice President Dr Philip Mpango.

The Tanzania-Spain Business Forum was held yesterday on the side lines of the fourth international conference on development financing in the Spanish city of Sevilla, where the minister expressed Spain's keen interest in expanding trade and investment cooperation with developing countries. 

Spanish business representatives participating in the forum included 31 companies from sectors like food and agriculture, infrastructure, manufacturing, water, mining, energy, ICT, tourism and finance.

The minister said the companies are keen to explore opportunities presented by Tanzanian firms as part of Spain's broader economic strategy, directed at renewable energy and infrastructure where Spanish companies possess significant strength and expertise.

The VP invited Spanish firms into the various areas, noting that the two countries have a shared vision for sustainable development. Spain's commitment to the green economy and its advanced capabilities in renewable energy position it as a natural partner for Tanzania's clean energy transition goals, he stated.

“Overall, Spain's participation in hosting the forum and the engagement of its business sector underscore a strategic intent to leverage its economic strengths and technological advancements to forge new partnerships in promising African markets like Tanzania,” the minister noted, affirming that this focus is aligned with broader European Union efforts to boost investment in the continent. 

The forum served as a crucial platform for Spanish businesses to gain first-hand insights into Tanzania's improved investment climate and to identify concrete opportunities for collaboration, he affirmed.

Top investment officials explained the situation in various investment areas, pointing at reforms undertaken to improve the business and investment environment, along with a growing market for all sorts of industrial goods, driven by rises in national income projections and population.

Tanzania's strategic geographical position serving multiple countries, with significant improvements in basic infrastructure and major advancements in the ICT sector were also showcased, officials noted.

Gilead Teri, the Tanzania Investment and Special Economic Zones Authority (TISEZA) director general conducted the briefing, accompanied by Rished Bade, the Treasury commissioner for external finance and top investment officials from both sides of the union.