4 March 2013

Tanzania: Oman Seeks to Invest in Tanzania Ports, Railways

Dar es Salaam Tanzania — The Sultanate of Oman is keen at investing in infrastructure such as ports and railways here, thanks to a Memorandum of Understanding (MoU) signed between the two countries.

Tanzania and Oman signed a MoU under the Joint Permanent Commission of Cooperation (JPCC) legal framework which focuses on trade relations and political consultations.

It also aims at formalizing trade relations and improving the environment for investors from both countries.

Tanzania's Minister for Foreign Affairs and International Cooperatives, Mr. Bernard Membe said that although Oman has invested in two areas, there are many potential areas for investment.

Besides investment, Membe said that the MoU presents long catalogue of potential areas for cooperation such as in housing, water supply, education, agriculture, livestock development, fisheries, infrastructure, health, natural resources, tourism, trade, industry, energy and minerals.

"The MoU will benefits all of us because, we are rich in natural resources while Oman has advanced a lot in the technology and expertise as well as having good capital," Membe said.

The Oman's Minister for Foreign Affairs, Sheikh Yousuf bin Alawi bin Abdullah noted that the two countries have agreed on key areas of cooperation and reaffirmed his government's commitment in implementing the agreements.

Sheikh Abdullah urged officials from both countries to ensure that the agreement is implemented.

"You should meet frequently to make sure that what we have agreed on is implemented as required by MoU," he said.

According to Sheikh Abdullah, the second JPCC meeting will be held in Muscat early next year.

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