The growth in revenue from Cargo export in the Democratic Republic of Congo (DRC) has worsened the situation in Tanzania’s already choked storage facility.
Recently, Tanzania’s Dar es Salaam’s port which handles 90% of the country’s cargo traffic has witnessed a lot of discomforts as it attempts to accommodate increased Cargo exports from DRC.
Following the increase in trade volumes from cargo exports between Tanzania and DRC which began years back, experts believe that DRC’s cargo to the East African nation will shoot up by 45 percent, which is considered to be on a high end.
DRC’s cargo growth brings a fortune for Tanzania as the East African country benefits from President John Magufuli schemes which ensures that Tanzania is a global hub for industry and Trade.
Almost 35 percent of all cargoes moving through Dar es Salaam is a transit cargo and the country still struggles to secure adequate measures for global trade expansion.
Tanzania which seeks expansion to enable the country to handle more goods still lacks sufficient storage facilities such as importation receipts.
This is in line with the recent pact signed by Tanzania, DRC 42 countries. History was recorded recorded in Africa on Thursday, when 44 countries signed a unified Continental Free Trade Agreement that will pave way for a liberalized market for goods and services, boost global competitiveness across the continent.