ABN - Morocco will build on trading links with Tanzania following discussions at the African Business Connect for Economic Partnership initiative.
Investors from the North African nation will focus on increasing trade in key Tanzanian sectors including mining, transport, communications and agroprocessing.
In particular, the East African country’s fishing industry has been highlighted as having high potential, with investors set to establish a fish processing factory in Tanzania.
Khalid Salum Mohamed, Finance Minister of Zanzibar, said: "Some Moroccan investors have conducted a study and found huge potential in fisheries.
“They intend to set up a giant fish processing factory. Zanzibar and Union governments are striving to attract investors."
Morocco’s ambassador to Tanzania, Abdillah Benr Yane, also commented on the economic agreements which were struck between the two nations at the conference.
“These [economic agreements] are necessary for the growth of trade among African countries.
“We are here to demonstrate that African countries cannot fight poverty without increased trading among themselves. We want trade between Tanzania and Morocco to increase rapidly."