Trade relations between Oman and Tanzania have seen a remarkable upswing, with their economic exchanges soaring from $140 million to $350 million over the past three years. This growth reflects a concerted effort by both nations to bolster economic and investment ties. Saud Hilal Al Shidhani, the Omani Ambassador to Tanzania, noted that the two countries are leveraging their longstanding historical connections to foster increased business interactions and investment in pivotal sectors. Omani enterprises have been increasingly active in Tanzania, participating in trade exhibitions and forming partnerships with local businesses to solidify their presence.
Highlighting Tanzania’s advantageous position as a strategic gateway to East Africa, Ambassador Al Shidhani pointed out the nation’s accessibility to regional markets, facilitated by its membership in the East African Community (EAC) and the Southern African Development Community (SADC). Recent agreements between the two countries on investment protection and avoidance of double taxation have further incentivized investments in various areas, including oil and gas, mining, agriculture, fisheries, manufacturing, logistics, airport management, and transportation.
The growing interest from Tanzanian investors in Oman’s real estate market has also contributed to strengthening the economic ties between the two countries. Future partnerships are expected to hone in on sectors such as logistics, port development, renewable energy, tourism, food processing, mining, and the establishment of special economic zones, underscoring a shared commitment to mutual economic growth and development.
In anticipation of the upcoming third session of the Oman-Tanzania Joint Committee, both nations are set to convene in Dar es Salaam to assess ongoing projects and identify new areas for collaboration. This meeting is poised to further cement their bilateral relationship. Additionally, Air Tanzania’s plan to introduce three weekly direct flights between Dar es Salaam and Muscat is anticipated to enhance connectivity, supporting tourism, trade, and business travel between the two regions.