Over the past three years, the trade relationship between Oman and Tanzania has seen remarkable growth, with trade volume increasing from $140 million to $350 million. This surge is a result of both nations enhancing their economic and investment partnerships. Saud Hilal Al Shidhani, who serves as Oman’s Ambassador to Tanzania, emphasized that the two countries are leveraging their longstanding historical connections to facilitate greater business exchanges and investments in various sectors. Omani enterprises have been actively participating in trade exhibitions and forming alliances with local Tanzanian companies.
Tanzania’s advantageous positioning as a gateway to East Africa plays a significant role in this burgeoning trade relationship. The nation offers access to a wider regional market, being part of the East African Community (EAC) and the Southern African Development Community (SADC). Recent agreements on investment protection and double taxation have created a more conducive environment for investments in sectors such as oil and gas, mining, agriculture, fisheries, and manufacturing, as well as in logistics, airport management, and transportation.
The economic ties between Oman and Tanzania have been further bolstered by the growing interest from Tanzanian investors in Oman’s real estate sector. Looking ahead, both nations anticipate future collaborations in areas including logistics, ports, renewable energy, tourism, food processing, mining, and the development of special economic zones.
In a bid to strengthen these ties, the third session of the Oman-Tanzania Joint Committee is scheduled to take place in Dar es Salaam. This meeting will serve as a platform to review existing projects and identify new areas for cooperation. In addition to these developments, Air Tanzania is set to introduce three weekly direct flights between Dar es Salaam and Muscat. This new route is expected to facilitate tourism, enhance trade, and support business travel between the two regions.