A 23-strong trade delegation led by Ithraa, Oman’s inward investment and export promotion agency, will visit Tanzania from July 9 to 11, to demonstrate the expertise and quality of Omani companies and non-oil exports.

Mazen Al Siyabi, Ithraa’s head of export development, said: “Tanzania is very much on the international business community’s radar because of its geographic location, excellent connectivity, macroeconomic and political stability and fast growing economy which expanded by over 6 per cent in 2017.”

According to the World Bank, Tanzania’s population of 53 million is estimated to grow at an annual rate of 3 per cent. This coupled with an urbanisation rate of 30 per cent has resulted in increased consumer demand that Omani exporters are looking to meet.

Bordering eight countries including Kenya, Uganda, Congo and Mozambique, Tanzania has a relatively diversified economy and according to Ithraa a number of opportunities remain untapped.

Experts expect Tanzania’s economic growth to average 6.2 per cent between 2017 and 2026, said a statement.

Al Siyabi explained: “This growth is underpinned by infrastructure development and a growing urban consumer base. In particular, international firms are being attracted to Tanzania’s mining, food and beverage, telecom, construction and energy sectors.”

On the logistics front, by linking the ports of Duqm, Salalah and Sohar with Dar es Salaam Port, Oman’s growing community of non-oil exporters, particularly SMEs, could gain also access to new African markets using Tanzania as a gateway, it said.

Al Siyabi said: “We believe Tanzania offers Omani exporters ample trade and investment opportunities not to mention access to a market of more than 150 million people in the East African Community (EAC) region.”

“There is huge potential and we are excited about the positive results our visit to Dar es Salaam will produce. Indeed, we look forward to building a lasting trade relationship with Tanzania that brings benefits to both our countries,” Al Siyabi added. – TradeArabia News Service