Indian PM to visit Tanzania over new areas of economic ties

 Indian Prime Minister Narendra Modi will on July 10 begin a two-day official visit to Tanzania to enhance historical relations between the two countries, authorities said on Friday.

"During the visit by the Indian Premier our two countries will explore new areas of economic cooperation," said Augustine Mahiga, the east African nation's Minister for Foreign Affairs.

He told a news conference in the commercial capital Dar es Salaam that Modi will also hold talks with President John Magufuli who is driving an industrialization agenda for his country, the second largest economy in the east African region.

Mahiga said the Indian prime minister will also use his visit to explain steps taken by his country in implementing promises given by his government at the Indian and African leaders' summit, held in Delhi in October 2015.

The pledges were, among others, setting aside 10 billion U.S. dollars for loans to African countries for implementation of various development projects, said Mahiga.

The Indian government also promised setting aside 600 million dollars as aid to Africa for implementing various social projects, offering 50,000 training opportunities in various fields as well as supporting African countries setting network communication at training institutions in the African continent.

Mahiga said Modi will be accompanied by about 50 Indian businessmen who have shown interest in investing in industry, manufacturing and construction, human drugs and juice production in Tanzania.

India is a leading trade partner of Tanzania with major Indian companies and brands operating in Tanzania including the Bank of Baroda, Bank of India, Tata International Limited, insurance companies, Reliance Industries Ltd, Kamal Group of Industries and Bharti Airtel.

India has been one of Tanzania's largest trade partners. According to the Department of Commerce data, total bilateral trade with Tanzania was 3573.63 million dollars during 2014-15. 
Source:XINHUA