The trade relationship between Oman and Tanzania has seen remarkable growth in the last three years, with trade values escalating from $140 million to $350 million. This surge is a testament to the strengthening economic and investment ties between the two countries. Saud Hilal Al Shidhani, Oman’s Ambassador to Tanzania, emphasized that the nations are building on their deep-rooted historical connections by enhancing business exchanges and fostering investment in crucial sectors. Omani enterprises have notably increased their operations in Tanzania by participating in trade fairs and forming alliances with local companies.
Tanzania’s advantageous position as a gateway to East Africa plays a significant role in this burgeoning trade relationship. As a member of the East African Community (EAC) and the Southern African Development Community (SADC), Tanzania offers access to expansive regional markets. The ambassador pointed out that recent agreements concerning investment protection and double taxation have been instrumental in attracting investments in diverse sectors such as oil and gas, mining, agriculture, fisheries, manufacturing, logistics, airport management, and transportation.
There is also a growing interest among Tanzanian investors in Oman’s real estate market, further bolstering the economic ties between the two countries. Looking forward, the focus of cooperation is expected to cover areas like logistics, ports, renewable energy, tourism, food processing, mining, and the development of special economic zones. These initiatives highlight the dynamic partnership and mutual benefits both nations anticipate from their economic collaboration.
The upcoming third session of the Oman-Tanzania Joint Committee, set to take place in Dar es Salaam, will serve as a platform to evaluate ongoing projects and identify new prospects for collaboration. In addition to these developments, Air Tanzania is planning to initiate three weekly direct flights between Dar es Salaam and Muscat. This new air route is expected to further facilitate tourism, trade, and business travel, enhancing connectivity and economic interaction.