New Delhi, Jan 19 Commerce Minister Kamal Nath today said that there is a need to increase the bilateral trade between India and Tanzania, as there is huge potential for the same.

During the bilateral interaction with the Tanzanian Minister for Industry, Trade and Marketing, Dr. Mary Nagu, Nath called for the Tanzanian investors to avail the opportunities of the favourable investment climate in India, particularly in the sectors viz., telecommunication, fibre-optics, infrastructure development and tourism.

Nath welcomed partnerships and joint ventures with Tanzania in sectors like telecom, agro and power and energy.

The Minister added that India would like to explore and investment in the development of industries based on crops such as cotton, sugar, soya bean and groundnuts.

"The total bilateral trade between India and Tanzania during 2007-08 was US $ 752.16 million (exports - $ 587.60million and imports $ 164.56 million)," he said.

Major items of India's exports to Tanzania include petroleum, machinery and instruments, drugs, pharmaceuticals and fine chemicals, electronic goods, and transport equipments.

Major items of India's imports from Tanzania are cashew, pulses, spices, pearls, leather, and non-ferrous metals. (ANI)