Economic ties between Oman and Tanzania have seen a substantial boost, with trade volumes escalating from $140 million to $350 million in the past three years. This uptick reflects the strengthening of economic and investment cooperation between the two nations. Oman’s Ambassador to Tanzania, Saud Hilal Al Shidhani, emphasized that the countries are capitalizing on their deep-rooted historical connections by fostering business exchanges and investments in crucial sectors. Omani businesses have notably increased their footprint in Tanzania through trade exhibitions and collaborations with local enterprises.
The ambassador underscored Tanzania’s strategic significance as an entry point to East Africa, leveraging its membership in the East African Community (EAC) and the Southern African Development Community (SADC) to reach broader regional markets. Recent agreements focusing on investment protection and double taxation relief have been pivotal in attracting investments into various sectors, including oil and gas, mining, agriculture, fisheries, manufacturing, logistics, airport management, and transport.
Bilateral economic relationships have further been bolstered by the growing interest of Tanzanian investors in Oman’s real estate market. Looking ahead, both nations are set to emphasize cooperation in logistics, ports, renewable energy, tourism, food processing, mining, and special economic zones. These areas present promising opportunities for future collaboration and development.
In preparation for the upcoming third session of the Oman-Tanzania Joint Committee in Dar es Salaam, both countries are gearing up to evaluate ongoing projects and identify fresh avenues for partnership. Additionally, Air Tanzania’s plan to introduce three weekly direct flights between Dar es Salaam and Muscat is expected to enhance tourism, trade, and business travel, further solidifying the economic relationship between Oman and Tanzania.