Over the past three years, the trade relationship between Oman and Tanzania has seen substantial growth, with the trade volume rising from $140 million to $350 million. This increase marks a significant strengthening of economic and investment ties between the two nations. Oman’s Ambassador to Tanzania, Saud Hilal Al Shidhani, emphasized that this enhanced cooperation is built upon their long-standing historical connections, with both countries engaging more deeply in business exchanges and investment activities across several critical sectors. Omani enterprises have actively expanded their reach in Tanzania, participating in trade exhibitions and forming partnerships with local businesses.
Ambassador Al Shidhani noted Tanzania’s advantageous position as a gateway to East Africa, which is strategically important due to its membership in both the East African Community (EAC) and the Southern African Development Community (SADC). This positioning offers access to a broader regional market. Recent agreements focused on protecting investments and avoiding double taxation have been pivotal in attracting investments in various industries, including oil and gas, mining, agriculture, and more. These agreements are designed to foster a conducive environment for economic growth and collaboration.
In addition to Omani investments in Tanzania, there is a growing interest from Tanzanian investors in Oman’s real estate market, further cementing the economic connection between the two countries. Looking forward, both nations are poised to enhance their cooperation in sectors such as logistics, ports, renewable energy, tourism, food processing, mining, and special economic zones. These areas are expected to be of mutual benefit, driving forward the economic agendas of both countries.
The two nations are also gearing up for the third session of the Oman-Tanzania Joint Committee, scheduled to take place in Dar es Salaam. This session aims to review ongoing projects and explore new avenues for collaboration. In addition, Air Tanzania plans to introduce three weekly direct flights between Dar es Salaam and Muscat, which is anticipated to further boost tourism, trade, and business travel between the two regions. This development is seen as a vital step in enhancing connectivity and facilitating easier movement for business and leisure.