PM's delegation to Mozambique, Tanzania aims to double trade
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Thailand aims during a visit to East Africa this week to forge closer ties with Mozambique and Tanzania in trade and investment, as well as paving the way to import more raw materials, particularly jewellery.
Prime Minister Yingluck Shinawatra will lead Thai officials and representatives from various industries including gems and jewellery, energy, food, agriculture, and mining to Mozambique and Tanzania from today through till Friday.
The mission aims to promote trade and investment and eliminate barriers to increase trade opportunities, particularly on gemstones supplied to Thailand.
Srirat Rastapana, director-general of the International Trade Promotion Department, said Thailand planned to double bilateral trade with both countries.
“The visit by the Thai team will increase confidence for Thai private enterprises to explore the African continent as the region has shown strong growth and should be considered a market for future growth,” she said.
During the mission, there will be a business forum in Mozambique on “Strengthening the Thailand-Mozambique Business Partnership” and a mini-exhibition of Thai goods. Thai private enterprises will have the opportunity to meet with Mozambican delegates and the private sector during a joint working group with the national director of mines.
Yingluck will also meet with the president of Mozambique in a bilateral meeting.
The two countries will sign a memorandum of understanding on trade and investment and have also agreed to exchange delegations.
Bilateral trade between Thailand and Mozambique was worth US$180 million (Bt5.6 billion) last year. Of this amount, Thai shipments grew by 3 per cent to $163.5 million, while imports rose 29 per cent to $16.8 million. Major export goods are rice, polymers, motor vehicles, clothes and sugar, while import products are yarn and fibre, fresh and frozen meat and seafood, iron and steel, and jewellery.
In Tanzania, Thailand will join a business forum on “Thailand-Tanzania Common Challenges, Shared Destiny” and hold a mini-exhibition to show Thai products. Thai delegations will meet with the country’s private-sector foundation and the Tanzania Investment Centre.
Bilateral trade between Thailand and Tanzania was valued $114.3 million last year.
