Both countries were once part of the British Empire and today are working closer in the economic co-operation.[2] In 2013, during a visit of the Tanzanian government to Malaysia, the government were interested on the Malaysian Economic Transformation Programme and thus ready to develop their own ETP with help from Malaysia.[3][4] Tanzanian government has stated that the implementation of Malaysia's model will be started soon.[5] While during the Malaysian Prime Minister reply visit, a total of 28 companies were brought to the country to increase more investments.[6][7]
Tanzania also hired Malaysian firms for high technology identity card which would be funded by the Tanzanian government and bank loans.[8] Furthermore, a Malaysian chemicals company had worked together with Tanzanian firms to build a US$800 million chemical plant in Tanzania.[9] A 30-member team of Malaysian experts are also currently coaching 300 Tanzanian experts on how the country can move forward to achieve their 2025 Development Vision.[10] Tanzania are also working with Malaysia to develop their palm oil industry and improve their rail transport,[11][12] and the country are ready to introduce an Islamic insurance services.[13]