Indonesia-Tanzania strengthen trade and investment relations

BOGOR, Indonesia

The state visit of Union Republic of Tanzania President Samia Hassan to Indonesia on Thursday (25/1/2024) strengthened the relationship between the two countries.

Cooperation in the fields of trade, agriculture, blue economy development, and mineral sector were established.

A total of four memoranda of understanding were agreed upon and presented to President Joko Widodo and President Samia in the Teratai Room of Bogor Presidential Palace on Thursday afternoon.

The memoranda of understanding consist of an MoU in the agricultural sector, an MoU for the development of blue economy through maritime and fisheries cooperation, an MoU for cooperation in diplomatic capacity building, and an MoU for cooperation in the mineral sector.

In addition, a statement of interest in investment facilitation and promotion was also conveyed.

In a joint press statement, President Widodo conveyed that the friendship between Tanzania and Indonesia is continuously strengthening.

President Samia also values the longstanding relationship between Indonesia and Tanzania. This relationship began with the first President of Tanzania, President Julius Nyerere (1964-1985), and the first President of Indonesia, Sukarno.

She believes that these predecessors laid the foundation for the relationship between the two countries, and subsequent generations of leaders have further strengthened the bilateral ties.

"The visit between Jakarta and Dar es Salaam not only reflects friendship, but also our commitment to advance our bilateral relationship to a higher level," said President Samia.

Diplomatic relations between Indonesia and Tanzania have been established for 60 years. "For us, Indonesia has been a friend in every situation because our relationship was formed since the colonial era and Indonesia is one of the countries that opened an embassy in Tanzania," said President Samia.

"In the previous meeting we discussed several things, the first of which was related to trade, a preferential trade agreement will be formed to increase trade and the launch of negotiations will begin this year," said President Jokowi.

Regarding investment, the commitment to cooperation in the oil and gas sector continues to be strengthened. PT Pertamina has strengthened cooperation in the Mnazi Bay Gas Block. Training for employees of Tanzania Petroleum Development Company (TPDC) has also begun.

"In the future, Indonesia hopes that negotiations between Medco Energy for cooperation in LNG and the investment plan of ESSA (PT Surya Esa Perkasa) in the fertilizer sector can be realized soon," said President Jokowi.

President Jokowi also conveyed the importance of establishing a bilateral investment treaty to protect investment between the two countries. In the field of investment and trade, according to President Samia, there will be a focus on strengthening bilateral investment between the two countries.