The government in Dar es Salaam, Tanzania is making the final adjustments to the Kurasini Trade and Logistics Centre so it can be implemented in a way that resonates with national priorities. The approach fine-tunes the previous plan whereby the project was to be known as the Sino-Tanzania Logistics Centre. What is expected to be the largest trade hub for agro products in the region of East Africa, the grand project, to be implemented by the Export Processing Zones Authority (EPZA), will cost about US$30 million. The actual cost and other logistics on the project implementation will, however, be unveiled in February next year after thorough project analysis and assessment by a special committee formed by the EPZA Board of Directors that met in Dar es Salaam on Tuesday. Innocent Bashungwa, the Industry and Trade Minister, said the trade hub will unlock immense market potentials for agriculture products to be traded through the Tanzania Mercantile Exchange (TMX), thus greatly increasing the local farmers’ earnings.
Tanzania’s organised commodity exchange, TMX, is a platform where buyers and sellers come together to trade transparently, assured of quality, quantity, payment and delivery of the products. The establishment of the trade hub is a huge step in transforming the agriculture sector and its contribution to the farmers’ earnings and to the Gross Domestic Product and provides an important platform for accessing regional and international markets, said the Minister. Compensation has already been paid to residents of Kusarini for the implementation of the project on the 61.87 acres of land. The Export Processing Zones Authority will prepare a concept note on the project, design the buildings as well as put in place road, water and electricity infrastructures. The EPZA together with other stakeholders is set to construct warehouses of international standards and agro-processing industries for export of goods. The hopes of the project, once completed, are to provide a one-stop centre for investors’ facilitation, warehouses of international standards and the availability of high tech equipment.