The trade balance between Tanzania and Turkey is expected to increase from 1.5m USD to 500m USD annually following the signing of trade agreement which will keep commodities from both countries from being taxed twice.
Turkish Ambassador to Tanzania Ali Davitoglu revealed this to journalists over the weekend in Dar es Salaam.
“Tanzania and Turkey are expecting to sign the trade agreement which will allow commodities from Tanzania to Turkey and those from Turkey to Tanzania to be exported and imported respectively without being taxed twice,” he said.
He said that the agreement will be signed on November 29 this year between the Tanzanian Minister of Industry and Trade Dr Abdalah Kigoda and Ambassador Divitoglu.
The Ambassador said currently commodities entering Tanzania from Turkey and those exported to Turkey from Tanzania are being taxed twice thus the agreement will help abolish the double taxation as commodities will be taxed either from the country of origin or once they enter into another country.
He said the signing ceremony will be preceded by the opening of the Turkish commodity exhibitions which will be held in Dar es Salaam.
Briefing about the exhibitions Director of Meridian Company, Nuvit Becan who organized the exhibitions called upon Tanzanians to attend the exhibitions which will involve over 40 companies from Turkey.
SOURCE: THE GUARDIAN