KEYNOTE SPEECH BY HON. KASSIM MAJALIWA MAJALIWA (MP), PRIME MINISTER OF THE UNITED REPUBLIC OF TANZANIA DURING TICAD 8 SUMMIT, 27TH AUGUST 2022 TUNIS, TUNISIA 

 

Plenary session 1:     Achieving Sustainable and Inclusive Growth with Reduced Economic Inequalities

 

 

Your Excellency, Kais Saied, Co-Chair and President of the Republic of Tunisia;

 

Your Excellency, KISHIDA Fumio, Co-Chair and Prime Minister of Japan;

 

Excellencies Heads of State and Government;

 

Excellencies Heads of Delegation;

 

Honourable Ministers;

 

Distinguished Delegates;

 

Ladies and Gentlemen.

Let me join those who spoke before me by conveying deepest condolences to the Government and People of Japan and to the bereaved family following untimely death of the late Shinzo Abe, former Prime Minister of Japan. May Almighty God Rest His Soul in eternal peace. Amen. Let me also wish the Prime Minister Kishida Fumio speedy recovery from illness.

 

I also wish to express my sincere gratitude and appreciation to the Government of Tunisia for the warm welcome and generous hospitality accorded to me and my delegation since our arrival in this beautiful city of Tunis. 

 

Co-Chairs,

I bring with me the fraternal greetings from Her Excellency Samia Suluhu Hassan, President of the United Republic of Tanzania, who attaches great importance to the TICAD process and would have loved to be here, but due to other commitments she has not been able to attend this important summit.

 

TICAD CONTRIBUTION TOWARDS THE ECONOMIC DEVELOPMENT OF AFRICA

 

Co-Chairs,

TICAD has been able to make a significant contribution in heightening the attention of the international community towards the economic development of Africa. This has been possible through TICAD’s provision of Official Development Assistance (ODA) in various Economic sectors. The African continent has made a significant step since TICAD – 7 in 2019 whose declaration was “Advancing Africa’s Development through People, Technology and Innovation”. 

 

Economic growth creates better employment opportunities and provides greater economic security for all. Moreover, rapid growth, especially among the least developed and other developing countries, reduces the wage gap relative to developed countries, thereby diminishing inequalities between the rich and poor.

 

DEALING WITH THE NEGATIVE EFFECTS FROM COVID - 19 AND RUSSIA - UKRAINE WAR

 

As we are all aware, the world is currently facing the negative effects from COVID -19 as well as Russia-Ukraine war in implementing its micro and macro-economic policies. We must prepare to respond on socio-economic impacts in order to attain sustainable and inclusive growth with reduced economic inequalities.

 

I therefore, call upon multilateral institutions and developed nations to continue placing stimulus Official Development Assistance packages and providing emergency financing for developing nations. This will help address our fiscal pressures and preserve macro - economic stability. 

 

Co-Chairs,

The impact of Russia-Ukraine war to the economies of the African countries includes rising prices for basic commodity imports, food insecurity and rapid food inflation. Tanzania has not been spared by the above- outbreaks.  Immediate concrete efforts are required to respond to these challenges.

 

My Government continues to use various interventions for economic recovery, ensuring macroeconomic stability, and supporting structural reforms towards sustainable and inclusive growth. Currently, the Government is temporarily subsidizing the fuel products and fertilizers, reduce import duties on cooking oil and cash transfer for social protection.

 

APPRECIATION TO G20 DEBT SERVICE SUSPENSION INITIATIVES (DSSI)

 

Co-Chairs, African countries appreciate the G20 initiatives especially creditor countries for initiating the Debt Service Suspension Initiatives (DSSI) through relief loans repayment during the COVID – 19 pandemics.  We believe that, TICAD – 8, the G20 and multilateral institutions may come up with the same kind of initiative for African countries to mitigate the challenges I have just mentioned.

 

CONCLUSION

Co-Chairs, In conclusion, I wish to encourage developed nations and multilateral institutions to stimulate and catalyse public and private investments to developing nations by providing the financing with favourable conditions. On its part, The Government of the United Republic of Tanzania would like to reaffirm its commitment to the TICAD process. 

 

I thank you all for your kind attention!