Korea seeks to bolster ties with Tanzania, key supply chain partner


South Korea is actively seeking to strengthen its relationship with Africa, recognizing the continent's dynamic economies, youthful population, and rich natural resources. Tanzania, in particular, has emerged as a crucial partner as global competition intensifies for valuable natural resources within rapidly evolving supply chains for key industrial sectors. With a population of 63 million, Tanzania is anticipated to be among the top 10 fastest-growing economies this year, with a projected growth rate of 5.5 percent. Efforts to enhance economic ties between Korea and Tanzania have been underway, exemplified by a meeting between Korea's Trade Minister Cheong In-kyo and Tanzanian Ambassador to Korea Togolani Edriss Mavura. The potential Economic Partnership Agreement (EPA) between Korea and Tanzania is expected to form the basis for stable trade relations and extend to other areas including supply chain establishment, digital technology, and green economy. The summit between President Yoon Suk Yeol and African leaders in June is anticipated to signify a significant milestone in fostering robust cooperation between Korea and Africa. Tanzania's Ambassador to Korea, Togolani Edriss Mavura, has emphasized the strategic importance of the relationship between Korea and Tanzania, highlighting the mutual need for their respective narratives to be present in each other's countries. This underscores the potential for significant collaboration and growth between the two nations.


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