Over the past three years, trade between Oman and Tanzania has witnessed a remarkable surge, escalating from $140 million to $350 million. This growth underscores the strengthening economic and investment ties between the two nations. Oman’s Ambassador to Tanzania, Saud Hilal Al Shidhani, emphasized the historical bonds shared by the countries, which are now being fortified through enhanced business exchanges and investments in critical sectors. Omani enterprises have notably increased their footprint in Tanzania, participating in trade exhibitions and forming alliances with local businesses.
Ambassador Al Shidhani pointed out Tanzania’s advantageous position as a gateway to the East African region, offering access to broader markets via its affiliations with the East African Community (EAC) and the Southern African Development Community (SADC). He noted that recent agreements focusing on investment protection and the prevention of double taxation have spurred investments in various sectors, including oil and gas, mining, agriculture, fisheries, manufacturing, logistics, airport management, and transport.
The bilateral economic relationship has further been bolstered by a growing interest from Tanzanian investors in Oman’s real estate market. Looking ahead, the collaboration is anticipated to extend into logistics, ports, renewable energy, tourism, food processing, mining, and special economic zones, as both nations explore new opportunities for mutual growth.
In an effort to review current projects and identify potential new areas of cooperation, Oman and Tanzania are gearing up for the third session of the Oman-Tanzania Joint Committee, set to take place in Dar es Salaam. Additionally, the launch of three weekly direct flights by Air Tanzania between Dar es Salaam and Muscat is expected, which will further facilitate tourism, trade, and business travel between the two countries.