Oman and Tanzania have witnessed a notable surge in trade over the last three years, with figures climbing from $140 million to $350 million. This growth reflects the strengthening economic and investment ties between the two nations. According to Saud Hilal Al Shidhani, Oman’s Ambassador to Tanzania, the countries are leveraging their longstanding historical connections by enhancing business exchanges and investing in crucial sectors. Omani firms have increased their footprint in Tanzania by participating in trade exhibitions and forming partnerships with local enterprises.
The ambassador emphasized Tanzania’s strategic position as an entry point to East Africa, which is advantageous due to its membership in the East African Community (EAC) and the Southern African Development Community (SADC). Recent agreements aimed at investment protection and eliminating double taxation have spurred investments in several industries, including oil and gas, mining, agriculture, fisheries, manufacturing, logistics, airport management, and transportation.
Furthermore, Tanzanian investors are showing increased interest in Oman’s real estate market, further cementing the economic relationship between the two countries. Future collaborative efforts are anticipated to concentrate on logistics, port development, renewable energy, tourism, food processing, mining, and special economic zones.
Preparations are underway for the third session of the Oman-Tanzania Joint Committee, set to take place in Dar es Salaam. This session will serve as a platform to assess ongoing projects and identify potential new areas for cooperation. Additionally, Air Tanzania plans to introduce three weekly direct flights connecting Dar es Salaam and Muscat, which is expected to boost tourism, trade, and business travel between the two regions.