OREANDA-NEWS Tanzania is interested in expanding trade and economic cooperation with Russia, including in the processing of agricultural products, mining, IT, and tourism, Ambassador of Tanzania to the Russian Federation Fredrik Ibrahim Kibuta told reporters.

"As for trade turnover, it fell slightly last year due to the fact that SWIFT is disabled in Russia. But it did not fall much, because businessmen began to search for alternative money transfer opportunities... So the trade turnover is recovering, and I hope it will continue to grow," he said. According to him, promising areas for the development of cooperation are the processing of agricultural products, mining, tourism, energy, and the IT sector.

"These are fertilizers, as well as processing in agriculture, especially technologies for drying agricultural products.... The mining sector, oil and gas," the ambassador said. He also said that currently there are not many Russian investors in Tanzania, but there are already implemented projects in the manufacturing sector, tourism, telecommunications, and agriculture.

"As for the investment climate, it is more than favorable. We are creating all conditions to motivate Russian investors to come to Tanzania. We have created a special organization - an investment center, which is a single window where we are ready to help investors from Russia," said the Ambassador of Tanzania to the Russian Federation.

On Monday, the St. Petersburg Chamber of Commerce and Industry hosted a conference on the topic "Russia-Tanzania: opportunities for mutually beneficial cooperation", where the ambassador spoke about business areas and investment, trade and finance opportunities in Tanzania.