Over recent years, the economic partnership between Oman and Tanzania has seen remarkable growth, with trade volume climbing from $140 million to $350 million. This surge highlights the two nations’ efforts to bolster economic and investment collaboration. Oman’s Ambassador to Tanzania, Saud Hilal Al Shidhani, emphasized that the countries are leveraging their deep-rooted historical connections by enhancing business exchanges and fostering investments in crucial sectors. Omani enterprises have been increasingly engaging with the Tanzanian market, participating in trade fairs and forming alliances with local companies to strengthen their foothold.
The ambassador pointed out Tanzania’s advantageous position as a gateway to East Africa, which grants access to broader regional markets through its affiliations with the East African Community (EAC) and the Southern African Development Community (SADC). Recent accords on investment protection and the avoidance of double taxation have been pivotal in attracting investments across various industries such as oil and gas, mining, agriculture, fisheries, manufacturing, logistics, airport management, and transport. These agreements have paved the way for a more conducive environment for Omani investments in Tanzania.
Moreover, the burgeoning interest from Tanzanian investors in Oman’s real estate sector has further cemented economic ties between the two countries. Looking ahead, both nations aim to concentrate on expanding cooperation in logistics, ports, renewable energy, tourism, food processing, mining, and the development of special economic zones. These areas of focus promise to enhance the economic synergy between Oman and Tanzania significantly.
In preparation for the third session of the Oman-Tanzania Joint Committee in Dar es Salaam, both countries are set to evaluate ongoing projects and identify new opportunities for collaboration. The forthcoming meeting is anticipated to reinforce the existing partnership and explore novel avenues for mutual benefit. Additionally, Air Tanzania is poised to introduce three weekly direct flights connecting Dar es Salaam and Muscat, which is expected to facilitate tourism, trade, and business travel between the two nations, further strengthening their economic ties.