Tanzania and Egypt Sign Agreements to Deepen Economic Cooperation

 Tanzania and Egypt have signed a series of agreements to deepen economic partnership, covering trade and investment expansion, cooperation in agriculture and livestock, as well as strengthening air and maritime transport links, Tanzania's Foreign Ministry announced.

The agreements were reached on July 18 following talks between President Samia Suluhu Hassan and Egyptian President Abdel Fattah el-Sisi in Tanzania.

"We both agreed that the level of trade between our two countries is still low, although there is enormous potential for growth. Therefore, we agreed to expand trade and promote increased investment between our nations," Hassan said.

Special attention was paid to agriculture — Tanzania aims to draw on Egypt's experience in irrigation technologies to boost productivity in the agricultural sector. President Hassan emphasized that Africa spends between $70 and $100 billion annually on food imports, making increased domestic production a strategic priority.

"Tanzania has over 29 million hectares suitable for irrigated agriculture, and we also have the second-largest livestock herd in Africa. Egypt has made significant progress in irrigation technologies and seed production. We agreed to work together to develop this sector," she noted.

In the aviation sector, the sides agreed to strengthen cooperation between national airlines. EgyptAir already operates three flights per week to Tanzania, and the government has instructed Air Tanzania to prepare for launching direct flights to Egypt. Plans are also in place to establish maritime transport links between the ports of the two countries.

Egyptian President Abdel Fattah el-Sisi reaffirmed Cairo's commitment to cooperating with Tanzania on strategic development projects and announced the expansion of experience exchange programs.

"We are using all our capabilities to expand experience exchange programs and enhance the skills of Tanzanian officials in various development fields," the Egyptian leader stated.

The sides also agreed to continue coordinating positions on regional and international issues of mutual interest.

Earlier in July, the International Monetary Fund (IMF) approved the immediate disbursement of approximately $443.9 million to Tanzania following reviews of the Extended Credit Facility (ECF) and the Resilience and Sustainability Facility (RSF) programs. The country will receive $154.2 million under the ECF to strengthen the productive sector and social services, and $289.7 million under the RSF to address the impacts of climate change.