TANZANIA- The government has launched the National Trade Policy 2023, the official framework for enhancing both local and international trade through streamlining processes and spurring economic growth.
The new policy emerged from a systematic review of the two-decade-old National Trade Policy 2003.
The new policy is tailored towards mitigating the current trade barriers and bottlenecks threatening both domestic and international trade.
According to Dr. Selemani Jafo, Tanzania’s Minister for Trade, the revised policy will emphasize policy coherence, proactive institutional and legal frameworks, development of local trade, and international trade integration. He also revealed that the new policy will include sustainable growth promotion to ensure the continuous expansion of trade in Tanzania.
The new policy will promote value addition in the agriculture and manufacturing sectors. Value addition will help in broadening the array of products businesses in Tanzania can trade both locally and internationally. According to the Minister, value addition is one of the core pathways to enhance trade competitiveness and enhance export-driven growth.
The new policy also focuses on promoting trade partnerships and relationships with regional partners, which is slowly taking effect in Tanzania.
Last week, Tanzania and other member states from the East African Community (EAC), the Southern African Development Community (SADC) and the Common Market for East and Southern Africa (COMESA) recently entered into the Tripartite Free Trade Area (TFTA) trade deal that allows free trade among the 26 signitory countries.
In mid-July, President Samia Suluhu announced plans to set up a food security bond in the country as a means of enhancing food production and promoting value addition in the country. According to the president, the move is part of the government’s strategy that aligns with the new policy of enhancing the country’s competitiveness in the international market.
Dr. Doto Biteko, Tanzania’s Deputy Prime Minister, welcomed the new policy, praising the government’s commitment and initiative in implementing the previous national policy.
The Deputy Prime Minister also revealed the new policy was developed after extensive engagement with stakeholders across sectors, considering the need and avenues for resource mobilization and embedding trade into the country’s national strategy.
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