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RAK, Tanzania to boost trade ties

Ras Al Khaimah, April 6, 2008

Ras Al Khaimah and Tanzania have agreed to further strengthen bilateral cooperation in business and investment sectors, which have witnessed much progress during recent times.

Crown Prince and Deputy Ruler of Ras Al Khaimah Shikh Saud bin Saqr Al Qasimi held talks with minister of foreign affairs of Tanzania Bernard Membe and an accompanying delegation who called on him at the Al Dhait Palace here.

During the talks, the two leaders reviewed the progress in the implementation of various bilateral partnerships initiated between Ras Al Khaimah and Tanzania recently.

“We have made solid progress in taking forward the close ties between Ras Al Khaimah and Tanzania to a new level. We now look forward to further enlarge the scope of our partnerships and to make a meaningful contribution in the development process currently underway in Tanzania,” said Shaikh Saud.

Shaikh Saud noted that Tanzania held tremendous potential for development and added that various government agencies in Ras Al Khaimah would be happy to share their expertise and capabilities to help the country attain its true potential, especially in energy, tourism and logistics sectors.

Membe said the Government of Tanzania was making significant strides to modernise its economy and attract foreign trade and investment.

“We cherish the warm relations that we have with Ras Al Khaimah and look forward to opening up new avenues of cooperation between the public and private sectors of the two regions,” he said.

Advisor to RAK Crown Prince and CEO of Ras Al Khaimah Investment Authority (RAKIA) Dr Khater Massaad said that RAKIA was exploring possibilities for setting up a free zone in Tanzania, apart from pursuing other investment opportunities.

Managing director and CEO of RAK Properties Mohammed Sultan Al Qadi said that the company is all set to launch a mixed-use project in Kigamboni near Dar es Salaam.

“We have purchased a one-million square feet plot in Kigamboni for our first project in Tanzania, which is in the final stages of planning,” he added.

Earlier the Minister toured the plant of RAK Ceramics as part of the visit. – TradeArabia News Service




Tags: RAK | properties | Bilateral |

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