Trade between Oman and Tanzania has witnessed a remarkable surge over the past three years, escalating from $140 million to $350 million. This growth underscores the deepening economic and investment cooperation between the two nations. According to Saud Hilal Al Shidhani, Oman’s Ambassador to Tanzania, the countries are leveraging their long-standing historical relationship to enhance business exchanges and investments, particularly in pivotal sectors. Omani enterprises have increasingly established their presence in Tanzania, participating in trade exhibitions and forging partnerships with local businesses.
The ambassador emphasized Tanzania’s strategic importance as a gateway to East Africa, highlighting its advantageous position for accessing regional markets through its affiliations with the East African Community (EAC) and the Southern African Development Community (SADC). Recent agreements aimed at investment protection and the elimination of double taxation have further catalyzed investments in various sectors including oil and gas, mining, agriculture, fisheries, manufacturing, logistics, airport management, and transport.
Additionally, growing interest from Tanzanian investors in Oman’s real estate sector has bolstered the economic ties between the two countries. Looking ahead, both nations are poised to concentrate on cooperation in logistics, ports, renewable energy, tourism, food processing, mining, and the development of special economic zones. These sectors are anticipated to play a crucial role in the future economic partnership between Oman and Tanzania.
The upcoming third session of the Oman-Tanzania Joint Committee in Dar es Salaam will serve as a platform to review current projects and identify new avenues for collaboration. This meeting underscores the commitment of both countries to strengthen their economic ties. Furthermore, Air Tanzania is set to introduce three weekly direct flights connecting Dar es Salaam and Muscat, which is expected to enhance tourism, trade, and business travel between the two regions.