MUSCAT: BUSINESS communities and investors from Tanzania and Oman are expected to benefit from new initiatives aimed at strengthening bilateral trade cooperation between the two countries, following a business meeting between the President of the Tanzania National Business Council/Chamber of Commerce (TNCC), Vicent Minja, and the Chairman of the Oman Chamber of Commerce & Industry, Faisal bin Abdullah Al-Rawas.
During the meeting, the two leaders discussed the importance of reviewing and updating the Memorandum of Understanding (MoU) signed approximately 12 years ago to align it with current global economic trends and emerging investment opportunities in both countries.
They also emphasized the need to fast-track the Preferential Trade Agreement (PTA) between Tanzania and Oman, which is expected to facilitate trade, investment, and the flow of goods between the two nations.
In the discussions, Minja requested the support of the Oman Chamber in securing access to a dedicated industrial zone reserved for African countries. The initiative would enable Tanzanian investors to use the zone as a production and distribution hub for the Middle East market.
Minja further commended the Government of the United Republic of Tanzania, led by President Dr. Samia Suluhu Hassan, for its continued efforts through the Ministry of Foreign Affairs and East African Cooperation to promote Economic Diplomacy. He noted that these efforts have played a key role in opening trade and investment opportunities for the private sector in international markets, including Oman.
On his part, Oman Chamber of Commerce & Industry Chairman Faisal bin Abdullah Al-Rawas expressed the institution’s readiness to work closely with TNCC in implementing all the areas of cooperation discussed, emphasizing the private sector’s role as a vital bridge in linking economic opportunities between the two countries.
In a related development, Minja extended an official invitation to Al-Rawas and a delegation of Omani businesspeople to visit Tanzania to explore and take advantage of the country’s available investment and business cooperation opportunities.
