[Herald Interview] Korea- Africa Summit sets pathway for future together: Tanzanian President
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Tanzania's 1st female president urges cooperation for green growth, women's health, Korean investment
The 2024 Korea-Africa Summit held in June in Seoul was a historic event that would set the stage for stronger bilateral cooperation and bridge the geographical gap in the future, Tanzanian President Samia Suluhu Hassan said in an interview with The Korea Herald.
In a written interview conducted after her trip to Seoul, Hassan, Tanzania‘s first female president said South Korea and African nations who attended the meeting have committed to building a future through a strong, mutually beneficial partnership for shared growth, sustainability and solidarity.
The inaugural summit, participated by state leaders and diplomatic representatives from 48 African countries, was held in pursuit of Seoul‘s vision of becoming a “Global Pivotal State” as well as Africa’s vision of an integrated, prosperous and peaceful continent, as outlined in the African Union‘s “Agenda 2063.”
“I believe this summit sets a pathway for increasing trade, investments, and cultural relations between Korea and Africa,” she said.
“Therefore, moving forward, it is my sincere hope that we can work closely with the government of the Republic of Korea to advance and realize this shared goal,” emphasized Hassan.
During her visit to Seoul, the Tanzanian leader met her South Korean counterpart President Yoon Suk Yeol in a separate bilateral talk to discuss strengthening diplomatic ties and partnerships in natural gas and creative industries. They also discussed ways to expand employment opportunities for Tanzanian youth through Korea‘s Employment Permit System program.
According to Yoon‘s office, the two nations initiated talks over the Economic Partnership Agreement to diversify trade goods. The two leaders also acknowledged South Korea’s $2.5 billion commitment to Tanzania through the Korea Economic Development Cooperation Fund by 2028 to help improve living conditions and boost economic growth for Tanzania. The two also signed memorandums of understanding, including one meant for Tanzania‘s stable supply of key materials to South Korea. South Korea established diplomatic ties with Tanzania in April 1992.
President Hassan also highlighted the need for green energy to improve women‘s health.
The African Women Clean Cooking Support Programme launched at COP28 in 2023 addresses the negative impacts faced by women reliant on wooden biomass for cooking, according to Hassan.
“Considering the importance of Clean Cooking Energy, even at the regional level, we have mutually deliberated and agreed to cooperate in the field of green growth during the Summit,” said Hassan.
She also hoped to work with Korea’s green economy vision under its New Deal and commending Korea‘s efforts in greener infrastructure and renewable energy.
Tanzania is rapidly advancing its economic development but still requires Korean investment.
“Korean companies are renowned for their quality projects, which I can attest to through several infrastructure initiatives they have implemented in Tanzania,” Hassan said.
“Notably, the recent Tanzanite Bridge has significantly improved mobility in Dar es Salaam, our business hub,” she said.
Since 2004, Korea has supported Tanzania through its Economic Development Cooperation Fund. One notable project is the Tanzanite Bridge, which received construction support from the Korean government.
“Tanzania and Korea have strategic partnership extensive technical cooperation, and is the second-largest recipient of concessional support from Korea’s Economic Development Cooperation Fund (The EDCF),” she said.
Hassan highlighted Tanzania‘s market of 62 million people and the broader East African Community, the Southern African Development Community, and the African Continental Free Trade Area, the largest free trade area in the world. It encompasses 54 of the African Union’s 55 countries, representing 1.3 billion people and a combined gross domestic product of $3.4 trillion.
EAC is a regional economic community of Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda. SADC is a regional organization comprising 16 southern African countries that promote economic cooperation, and integration among member states, and preserve economic independence.
She cited Posco International‘s investment in the Mahenge Graphite project for EV battery and semiconductor production, Tan-Ko Mirae Green’s investment in a $6 million cashew nut shell liquid (CNSL) processing plant and cashew nut processing plants in Mkuranga, a coastal region as a few examples of Korean investments.
“At its full capacity, the CNSL plant will consume 48,000 tons of Cashew Nut Shells to produce 8,000 tons of CSNL annually for export,” she said.
The president said Tanzania offers a favorable business environment to potential Korean investors, referring to ongoing negotiations for Bilateral Investment Promotion and Protection Agreements and Double Taxation Agreements.
“Tanzania will continue to see an increasing rise of Korean investors,” she hoped.
Tanzania's rich mineral resources, political stability, as well as its fast economic growth rate of 5.1 percent make the country an attractive investment destination.
“Investors are welcome to Tanzania due to our fair laws and reduced bureaucratic procedures, similar to Korea,” Hassan said.
Profile:
Elected in 2021, Samia Suluhu Hassan became Tanzania's first female president. Previously, Hassan worked with the World Food Programme and the Zanzibar government. Since entering politics in 2000, she held ministerial positions including minister of state for union affairs. In 2014, she was elected vice chair of the Constitutional Assembly, responsible for drafting the country's new constitution.
By Sanjay Kumar(sanjaykumar@heraldcorp.com)
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