Economic ties between Oman and Tanzania have seen a substantial uptick, with trade volumes soaring from $140 million to $350 million over the past three years. This growth reflects the deepening economic and investment collaboration between the two nations, as noted by Oman’s Ambassador to Tanzania, Saud Hilal Al Shidhani. The ambassador emphasized that Omani businesses are increasingly engaging in the Tanzanian market through trade fairs and strategic partnerships with local firms, underscoring the historical connection between the countries.
Tanzania’s advantageous position as a gateway to East Africa is being leveraged for broader market access, given its membership in the East African Community (EAC) and the Southern African Development Community (SADC). Ambassador Al Shidhani pointed out that recent agreements on investment protection and the elimination of double taxation have spurred investment in several strategic sectors. These include oil and gas, mining, agriculture, fisheries, and manufacturing, as well as logistics, airport management, and transport.
Bilateral economic relations are further bolstered by the growing interest of Tanzanian investors in Oman’s real estate sector. Looking forward, both countries are poised to enhance cooperation in logistics, port development, renewable energy, tourism, food processing, mining, and special economic zones. These areas represent potential avenues for future collaboration, aiming to capitalize on existing strengths and market opportunities.
Preparations are underway for the third session of the Oman-Tanzania Joint Committee, set to take place in Dar es Salaam. This meeting will provide a platform to assess current projects and identify new opportunities for partnership. In a move set to boost connectivity and facilitate trade, tourism, and business travel, Air Tanzania is planning to introduce three weekly direct flights between Dar es Salaam and Muscat.