Increase in trade to boost Oman – Tanzania economic bonds

Oman is looking to increased its trade with East African country Tanzania to strengthen their mutual ties. Middle East nation Oman has been a long term partner of Tanzania, importing most of its foods stuffs from the sub-Saharan nation. The country is looking to push its imports number high, following Tanzania’s latest news in the aviation sector.

Tanzania recently acquired its newest Boeing 787 Dreamliner to bolster its operations in the skies. Air Tanzania hopes to use the chance to have its first cross-continent flight to Mumbai, India in its bid to regain its supremacy in the sector. Having been outshone in the sector by its competitors including Kenya Airways and RwandAir, the company is looking to bounce back with a bang.

The Government of Tanzania has been asked perhaps acquire a suitable aircraft that will facilitate business between the State and Oman, one that will be ideal for imports. Tomatoes and beans have been on top of Oman’s imports list among other commodities. As they seek to increase the trade relationship between them and Tanzania, more imports would be the catalyst of their economic bonds.

On the other hand, there could be plans underway on how both parties could benefit from each others’ economies by investing in them. Both the private and public companies will be granted business investment opportunities to help the individual states build strong economic towers.

Tanzania has been one of the countries that has benefited from heavy Foreign Direct Investments (FDI) in the country, and would rake bountifully from its investments elsewhere. These openings have had positive ripple effects in job creations, revenue and support of governmental projects.

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Oman continues to eye partnership with Tanzania with its political stability and fast growing economy among the interesting aspects in considerations. Its strategic geographical location has been a boost to Oman.

In 2016, the Omani business community was invited to explore trade opportunities in Tanzania as well as investment opportunities. The two nations have shared more than trade relations since the 19th Century that has built them together. As Tanzania is looking to spur its economy to an industrialized one, the partnership with various investors is highly welcome.

During that year, in 2016, Tanzania had opened opportunities in real estate, logistics and foodstuffs. Large scale investments in Tanzania have been encouraged as the Government is willing to accommodate such investments in the country.

Aiming to be a semi-industrialized economy by 2025, the vibrant economy of Tanzania can give the Omani business community a wide access of market to further stretch their businesses and explore more opportunities. President John Magufuli has ensured no loose ends discourage investors from swarming into the country. He has set structures in place and with the Government planning to ease business operations in the country, investments could only get better.