Oman and Tanzania have witnessed a remarkable expansion in trade over the past three years, with figures soaring from $140 million to $350 million. This surge reflects the two countries’ mutual dedication to enhancing economic ties and investment cooperation. According to Saud Hilal Al Shidhani, Oman’s Ambassador to Tanzania, both nations are capitalizing on their deep-rooted historical connections by boosting business exchanges and fostering investment in pivotal sectors. Omani enterprises have increasingly marked their presence in Tanzania through trade fairs and alliances with local companies.
Ambassador Al Shidhani emphasized Tanzania’s advantageous position as a gateway to East Africa, providing access to wider regional markets via its affiliation with the East African Community (EAC) and the Southern African Development Community (SADC). He noted that recent accords concerning investment protection and double taxation have bolstered investments across various domains, including oil and gas, mining, agriculture, fisheries, manufacturing, logistics, airport management, and transportation.
The growing interest from Tanzanian investors in Oman’s real estate market has further solidified the economic partnership between the two countries. Looking ahead, the focus of cooperation is expected to extend to logistics, ports, renewable energy, tourism, food processing, mining, and special economic zones. This broadening of collaboration highlights the dynamic nature of the bilateral relationship, aiming to harness opportunities in diverse fields.
Preparations are underway for the third session of the Oman-Tanzania Joint Committee, scheduled to take place in Dar es Salaam. This meeting will serve as a platform to review ongoing projects and explore new avenues for collaboration. Additionally, Air Tanzania is set to introduce three weekly direct flights between Dar es Salaam and Muscat, a move anticipated to further facilitate tourism, trade, and business travel between the two nations.