DAR ES SALAAM \u2013 Singapore and Tanzania can harness their individual strengths to create good jobs and inclusive growth, said President Tharman Shanmugaratnam.<\/p>\n
There is \u201creal potential for meaningful partnership\u201d between the two sides, from sectors such as agri-business to tourism, he said on June 9 to an audience of business leaders during his state visit to the East African nation<\/span><\/a>.<\/p>\n Describing Tanzania as \u201ca country of immense promise\u201d, President Tharman highlighted its young and entrepreneurial population, abundant natural resources, and strategic position linking regional and global markets.<\/p>\n There are also expanding investment opportunities, including in infrastructure, he noted.<\/p>\n Partnership between the two sides would combine Tanzania\u2019s own advantages with Singapore\u2019s experience in building efficient systems, advanced supply chain management, high-value services and the digital economy, said President Tharman.<\/p>\n \u201cIf we can work this complementarity between our two economies well, it can create good jobs, higher capabilities and inclusive growth,\u201d he said at a Singapore-Tanzania joint business forum at the Julius Nyerere International Convention Centre.<\/p>\n He said countries need to diversify by building \u201cnew corridors of opportunity\u201d as well as wider and more resilient supply chains. This is as the international order, especially the rules and norms of world trade, grows increasingly uncertain.<\/p>\n While Singapore and Tanzania appear distant on the map, their connection via shipping lanes goes back centuries, noted President Tharman.<\/p>\n \u201cWe meet today to renew a very old acquaintance \u2013 and to give it new relevance for our times.\u201d<\/p>\n He had earlier, on June 9, announced that Singapore would be negotiating a free trade agreement (FTA) with the East African Community (EAC)<\/span><\/a>, a regional grouping of eight countries that includes Tanzania.<\/p>\n Negotiations are expected to commence soon, he said at the forum.<\/p>\n This would be Singapore\u2019s first FTA with an African partner, and the EAC\u2019s first with a non-African partner. It will open new pathways for trade and investment between East Africa and South-east Asia, he said.<\/p>\n Tanzanian President Samia Suluhu Hassan, who also spoke at the forum, said it is a known fact that Singapore is one of the world\u2019s finest examples of economic transformation.<\/p>\n Both countries enjoy strong and cordial diplomatic relations, and there is considerable untapped potential to further deepen and expand the economic dimension of the partnership, she said.<\/p>\n President Hassan pointed to Singapore\u2019s record in economic transformation, port development, technology and investment management as a reference for Tanzania as it pursues its own industrialisation and logistics agenda.<\/p>\n Referring to Singapore\u2019s pacts with Vietnam and Thailand to ensure a steady supply of rice to the Republic, she suggested a similar pact with Tanzania for agricultural produce such as coffee, tea, cashew nuts and spices.<\/p>\n Tanzania was Singapore\u2019s 12th-largest trading partner in Africa, with total bilateral trade in goods amounting to $227.7 million in 2025.<\/p>\n Singapore\u2019s commercial interests in Tanzania are primarily in the transport and logistics, trade, infrastructure and built environment, hospitality, and oil and gas sectors. Singapore companies operating in Tanzania include Pacific International Lines, Wilmar International, Gas Supply and Nomanbhoy & Sons.<\/p>\n Tanzanian President Samia Suluhu Hassan pointed to Singapore\u2019s record in economic transformation, port development, technology and investment management as a reference for Tanzania as it pursues its own industrialisation and logistics agenda.<\/p>\n ST PHOTO: CHONG JUN LIANG<\/p>\n<\/figcaption><\/figure>\n The forum was co-organised by the Singapore Business Federation (SBF) to enable business leaders from both sides to network and explore opportunities for collaboration. The SBF delegation, which accompanied President Tharman on the trip, comprised 15 companies from a diverse cross-section of Singapore businesses.<\/p>\n SBF acting chairman Mark Lee, who led the delegation, said SBF aspires to do \u201cconsiderably more\u201d in Africa than it has done so far. Singapore has registered 36 investment projects in Tanzania since 1997, generating more than 2,000 jobs.<\/p>\n \u201cWe see a continent of young populations, fast-growing cities, expanding regional markets and reform-minded governments, and we see Singapore companies with capabilities that match these needs,\u201d said the Nominated MP.<\/p>\n \u201cWe are not here to extract value. We are here to build it together with Tanzanian partners,\u201d he added.<\/p>\n<\/div>\n DAR ES SALAAM \u2013 Singapore and Tanzania can harness their individual strengths to create good jobs and inclusive growth, said President Tharman Shanmugaratnam. There is…<\/p>\n","protected":false},"author":1,"featured_media":59703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[2611],"tags":[],"class_list":["post-59702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-headlines","wpcat-2611-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/59702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59702"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/59702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/59703"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/picture><\/div>
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