Tanzania-China Trade Window Proves Success

EXIM Bank's Tanzania-China Trade Window has cemented the business relations between the two friendly nations.

Exim Bank Business Relationship Officer Cosmas Nade, speaking at the ongoing 37th Dar es Salaam International Trade Fair (DITF), said: "The response from the business communities in both countries has been good and highly encouraging."

He said the growing business relation between Tanzania and China is the major reason for the creation of the window that aims at easing cross-border transactions. The window has been serving both Exim Bank customers and others who do not own bank accounts with the bank.

Bank of Tanzania (BoT) statistics show that Tanzania's exports to China increased from 101bn/- in 2005 to 908bn/- in 2010, a nine-fold upswing, while imports from Beijing rose from 245bn/- to 1.213tr/-, an increase of 500 per cent. Mr Nade said the trade window will boost and promote trade between the two countries.