To what extent can Tanzania traders benefit from foreign markets relative to the domestic markets?: case of Fishing Industry

This study examines the extent to which Tanzania fish traders can benefit from the foreign markets relative to the domestic markets. The methodology used in this study is qualitative in nature utilizing both primary and secondary data collected through an interview guide and questionnaire as well as in-depth review of various reports and documents related to the fishery sector. The study finds that the extent to which Tanzania fish traders can benefits when operating either in the domestic or in the foreign markets is varying, though in the domestic markets is large. In the domestic markets Tanzania traders have advantage of high prices for fish, less stringent standards and low number of regulations, very low level of competition, and moderate transaction costs to mention few. Benefits from the foreign markets are associated with very high potential for returns and profit from trading activities as well large number of customers. Both markets have possibility of benefiting from different investment opportunities. It is recommended that instead of thinking of exploiting the foreign markets opportunities, Tanzania fish traders must direct their efforts in serving the vast domestic markets which will become a stepping stone towards successful serving of the foreign markets. This must be accompanied by good Government policies and efforts on promoting fish and fish products, sustainable fishery resources management and private sector participation as among key strategies for improved performance of the fishery sector.