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Business Profile
Economy: Agriculture employs around 80 per cent of the working population. Cash crops, including cotton, coffee, tea, sisal, tobacco and cashew nuts, are the country’s main export earners, although depressed prices have kept Tanzanian revenues at a static level despite increases in production. There is an expanding mineral sector: diamonds are mined commercially, as are other gemstones and gold. Coal, phosphates, gypsum, tin and other ores are also extracted. Reserves of uranium, nickel, silver and natural gas have been located. The Government granted oil and gas exploration in the mid-1990s, which is starting to pay dividends: natural gas production is due to come on stream from the Rufiji delta. Tourism is one of the most important industries after mining and worth about US$700 million a year. The industrial sector is small and concentrated in agricultural processing and light consumer goods: sugar processing, brewing, textiles and the manufacture of cigarettes are the most important. Recent economic policy has sought to attract private sector capital through a wide-ranging privatisation programme. Of 400 companies earmarked for sale under the original 1995 plan, 80 per cent had been disposed of (although some have since failed in private hands). Liberalisation of trade and the financial sector were also implemented as part of an IMF-supported structural adjustment programme. On the whole, the economy has performed fairly well since the mid-’90s. GDP growth in 2002 was over six per cent. Little headway has been made, however, in tackling Tanzania’s massive external debt, which remains a considerable burden on the economy. The country is a recipient of foreign aid from both bilateral and multilateral donors, and in 2000 benefited to the tune of $2 billion from the Heavily Indebted Poor Countries initiative. Tanzania is a member of the African Development Bank, the Southern African Development Community and the East African Community (EAC). Its principal trading partners are the UK, Japan, Germany, India, Kenya and Congo (Brazzaville).
Business: Normal courtesies should be shown when visiting local businesspeople. Almost all executives speak English. Office hours: Mon-Fri 0800-1200 and 1400-1630, Sat 0800-1230. Government office hours: Mon-Fri 0730-1530.
Commercial Information: The following organisation can offer advice: Tanzania Chamber of Commerce, Industry and Agriculture, PO Box 9713, Dar es Salaam (tel: (22) 211 9436 or 212 1421; fax: (22) 211 9437; e-mail: tccia.hq@cats-net.com; website: www.tccia.co.tz).
Conferences/Conventions: For information concerning conferences and conventions, contact the Arusha International Conference Centre (AICC), PO Box 3081, Arusha (tel: (27) 250 2593/5 or 250 8008; fax: (27) 250 6630; e-mail: md@aicc.co.tz; website: www.aicc.co.tz).
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