(JW Insights) Oct 30 -- Tanzanian importers of Chinese goods have been advised to fully exploit the opportunities brought by the existing cooperation between the two countries, reported Tanzanian media Daily News on October 24.
One of the important opportunities that are yet to be explored by Tanzanian traders who import commodities from China is the acquisition of production technologies from the Asian giant that can be helpful in setting up industries in the country.
The idea is to reduce the country's dependence of goods imported from Beijing that can be made locally using Chinese simplified technologies.
Jonathan Bitababaje, NBC Bank's Product and Service Manager led a delegation to China. He quoted the country's Consulate General in Guangzhou-China, Mr Khatib Makenga who advised on having a vision of establishing local industries instead of relying solely on importing products from Beijing, reported Daily News.
According to the Consulate General, China has different sizes of technologies, asking Tanzanians to focus on simple technologies they can afford to invest on, especially those that can enable them to produce some products locally to reduce import-dependence.
Bitababaje told reporters after attending the Canton Fair that it is possible for Tanzanians to establish manufacturing industries with simple technologies.
The bank, among the group of top lenders, emphasised that it is ready to assist the businesses by providing them with the necessary capital to implement what they have learned in China.
The trip was organised by the lender through its business club, NBC B-Club.
The team also had the privilege to meet some Chinese manufacturers who gave them fresh insights into advanced technologies and had opportunities to explore new avenues of business collaboration.
“Our delegates benefitted from exposure to advanced technologies, establishing valuable connections with their Chinese counterparts. Some of our participants even procured much-needed machinery and tools, while others forged new alliances in the business realm,” Bitababaje said, according to the Daily News report.