In a significant boost to their economic and investment ties, trade between Oman and Tanzania has surged from $140 million to $350 million over the past three years. This growth is a testament to the strengthening collaboration between the two nations, as they capitalize on their historical connections to foster business exchanges and investment in critical sectors. Omani enterprises have notably increased their presence in Tanzania, engaging in trade exhibitions and forming partnerships with local enterprises to harness mutual benefits.
Oman’s Ambassador to Tanzania, Saud Hilal Al Shidhani, underscored the strategic advantages of Tanzania’s geographic position as a key entry point to East Africa. Through its membership in the East African Community (EAC) and the Southern African Development Community (SADC), Tanzania provides access to a wider regional market, making it an attractive investment destination. Recent agreements concerning investment protection and the elimination of double taxation have further encouraged investments in diverse sectors including oil and gas, mining, agriculture, and transport.
The bilateral economic relationship has also been bolstered by the interest from Tanzanian investors in Oman’s real estate sector. Looking ahead, both countries anticipate expanding cooperation in logistics, ports, renewable energy, tourism, food processing, mining, and special economic zones. These areas represent promising avenues for future growth and collaboration, promising to deepen the economic bonds between Oman and Tanzania.
In an effort to review existing projects and explore new collaborative opportunities, both nations are gearing up for the third session of the Oman-Tanzania Joint Committee, set to convene in Dar es Salaam. This meeting will be a critical platform for evaluating progress and charting new directions for partnership. Adding to this growing connectivity, Air Tanzania plans to introduce three weekly direct flights between Dar es Salaam and Muscat, a move expected to further enhance tourism, trade, and business travel between the two countries.