26 February 2013

Tanzania: Grab Oman Opportunities, Local Investors Urged

TANZANIANS have been urged to prepare themselves for investment opportunities available in the Sultanate of Oman.

The Minister for Foreign Affairs and International Co-operation, Mr Bernard Membe, said in Dar es Salaam yesterday that Tanzanians have the opportunity to penetrate Oman's economy where agricultural products are in short supply.

He was speaking during the closing of a two-day first session of 'the Tanzania-Oman joint permanent commission of cooperation'. "Tanzanians can venture in supplying meat products, vegetables and other food products which are in short supply in Oman," he said.

He added that friendly agreements have been put in place and many more are expected to be signed, to improve the environment for investors from either country. The two countries yesterday signed a Memorandum of Understanding between the Tanzania Ministry of Foreign Affairs and International Co-operation and its Omani counterpart in political consultations.

Mr Membe noted that Oman is interested in investing in infrastructure such as ports and railways. The Omani Minister for Foreign Affairs, Yousuf bin Alawi bin Abdullah, said the two countries have agreed on key areas of cooperation and reaffirmed his government's commitment in implementing the agreements.

He added that Oman will be ready to collaborate with Tanzania in political consultations and will ensure that investment doors are kept open. The meeting is a result of President Jakaya Kikwete's visit to Oman, last year where he signed three agreements and Memorandum of Understanding focusing on strengthening economic ties.

The two-day meeting charted out issues of common concern and interest such as, housing, water supply, agriculture, livestock, fisheries, transport, infrastructure, health, natural resources, tourism, trade, industry, energy and minerals, education and labour matters.

Opening the meeting on Sunday, Mr Membe pointed out that there are many potential areas for investment in Tanzania, adding that the country was rich in resources while Oman has technology, capital and expertise. He also urged the government of Oman to open its doors and allow Tanzanian goods and services to enter into their economy.

MoU signed during the tour of President Kikwete last year include Agreement on Investment Promotion and Reciprocal Protection, MoU on Cooperation in the field of Archives and MoU on Establishment of Joint Business Council so as to facilitate and speed up investment and business between the two brotherly countries.

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