Business opportunities in Tanzania, Senegal

By Our Special Correspondent

CHENNAI, AUG. 16. Indian companies wishing to diversify their markets and production locations and take advantage of the ``first mover advantage'' should consider Tanzania and Senegal, according to officials of the Asia Africa Investment and Technology Promotion Centre (AAITPC), funded by Japan and operated by the United Nations Industrial Development Organisation (UNIDO) to promote South-South cooperation.

The Confederation of Indian Industry (CII) is coordinating with the AAITPC the sponsorship of a business mission to the two African countries in October-November this year. The AAITPC has lined up more than 20 businesses each from Tanzania and Senegal who are interested in finding partners from India in textiles and apparel, leather and leather products, metalworking, machine making, chemicals, fruit processing, power generation/supply, steel rolling, furniture, pharmaceuticals and dairy.

The mission will accommodate those who want to visit either Tanzania or Senegal or both.

Indian businesses interested in finding partners in other sectors ahead of the visit of the delegation could specify their requirements to the CII and AAITPC.

According to presentations made by Mr. Dato J. Jegathesan, senior investment advisor, AAITPC, and officials from the Tanzania Investment Centre, at a meeting organised by the CII-Southern Region here last week, investors in Tanzania and Senegal could take advantage of the countries' membership, respectively, of the South African Development Cooperation (SADC) and the West African Economic and Monetary Union, besides concessional access to selected products in the U.S. and the European Union.

The presentations pointed out that both countries had been free from strife for more than two decades and had a stable multiparty democracy. While Tanzania also offered the advantage of widespread knowledge of English, Senegal had senior government and promotional officials familiar with English (the official language being French). Tanzania had a substantial population of Indian origin, while Senegal, with 95 per cent of the population professing Islam, had been led by a Christian President for 20 years and was totally free from religious conflict.

Mr. Jegathesan said Malaysian businesses had already started taking advantage of the opportunities in Tanzania with the establishment of a Malaysian Business Centre in that country.

Investors were offered a wide range of incentives by both countries, it was pointed out. India's two-way trade with Tanzania totalled more than Rs 800 crores in the last three years, while trade with Senegal ranged between Rs. 300 crores and Rs. 600 crores.

Information on business opportunities in Tanzania and Senegal (besides five other countries covered by the AAITPC) could be accessed from www.unido-aaitpc.com and about the Tanzania Investment Centre from www.cat-net.com/tic.

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Section  : Business
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