Pakistan, Tanzania sign two MoUs for cooperation in political, economic fields

ISLAMABAD, Dec 12 (APP): Pakistan and Tanzania have signed two Memoranda of Understanding (MoUs) including on Bilateral Political Consultations between the two countries’ foreign ministries and for the Establishment of a Joint Commission on Economic Cooperation.

The MoUs, described as a major leap forward in bilateral ties, were signed during the meeting between Pakistan High Commissioner to Tanzania Muhammad Saleem and Dr Palamagamba John Aidan Mwaluko Kabudi, Minister of Foreign Affairs and East African Cooperation of the United Republic of Tanzania, in Dar es Salaam.

According to a statement issued by Pakistan High Commission in Tanzania, the MoUs provide the institutional framework for structured dialogue between the two friendly countries in political and economic fields to elevate the relations to higher levels.

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Both sides were also working on various other initiatives including exchange of high level visits, trade delegations and people-to-people contacts to further strengthen the existing cordial ties.

The bilateral trade between Pakistan and Tanzania during financial year
2019-20 valued US$ 154 million.

Pakistani business community has invested around US$490 million in the Tanzanian economy providing employment for 5,400 Tanzanian nationals.

Both countries were working on realizing the existing trade and investment potential following a Tanzanian trade delegation’s recent visit to Pakistan from November 25 – December 01, 2020, the statement added.