Tanzanian President calls for increased investment with Russia in St. Petersburg
Boosting investments with Russia
Written by: Mohammed Omran
I participated Tanzanian President Dr. Samia Suluhu Hassan attended the St. Petersburg International Economic Forum 2026 in St. Petersburg, where she met with Russian President Vladimir Putin on the sidelines of the forum, which is being held at the Expoforum Congress and Exhibition Center in Russia.
Tanzanian President participates in St. Petersburg Economic Forum
During her participation, the President of Tanzania delivered a speech at the Tanzania-Russia Business and Investment Forum, stressing the importance of strengthening economic cooperation and attracting more joint investments between the two countries.
The forum was attended by a number of businessmen, investors and representatives of economic institutions from Tanzania and Russia, with the aim of discussing investment opportunities and expanding trade partnerships between the two sides, in order to support economic development and strengthen bilateral relations.
Russia is pursuing a policy of expanding its relations in Africa.
The visit is of great historical importance, as it is the first visit by a Tanzanian head of state to Russia since Mwalimu Julius Nyerere’s historic visit in 1969. It is poised to bring about a qualitative shift in the rules of economic cooperation between the two countries in the areas of trade, energy, mining, infrastructure and technology. The timing of the visit is of great importance.
While Tanzania is actively working on formulating its long-term development plan, Vision 2050, the country’s focus is on attracting strategic investments capable of accelerating industrialization, establishing local value-added, developing the energy sector, and modernizing vital national infrastructure.
At the same time, Russia is systematically expanding its economic ties across Africa, seeking dynamic new partnerships and untapped market opportunities.
Economic cooperation has not reached its full potential.
The cooperation reinforces a historically established relationship, with a strong focus on ambitious future expansion. While Dar es Salaam and Moscow have enjoyed friendly relations since the Soviet era – traditionally focused on higher education, technical training and mutual political goodwill – bilateral economic cooperation has yet to reach its full potential.
President Samia's presence in Moscow aims to transform the long-standing historical solidarity into a modern and highly productive economic partnership.
The current volume of bilateral trade is approximately US$307.5 million (equivalent to approximately 807 billion shillings) annually, a figure that is still modest considering the size of the two economies and the opportunities available.
President Samia’s visit aims to transform a long-standing diplomatic relationship into a stronger economic partnership capable of achieving tangible development gains.
