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Trade exchange set to grow after MoUs: Sayyid Badr

13 Jun 2022 By ONA

Muscat – The Sultanate of Oman and the United Republic of Tanzania signed several memoranda of understanding (MoUs) in the presence of President Samia Suluhu Hassan at Al Bustan Palace, a Ritz-Carlton Hotel, on Monday.

The MoUs are in the fields of energy, tourism, natural resources, higher education, training and national museums.

A trilateral MoU was signed between Oman Chamber of Commerce and Industry, Tanzanian Chamber of Commerce, Industry and Agriculture, and Zanzibar National Chamber of Commerce.

Agreements were also signed between Oman Investment Authority (OIA) and Zanzibar Investment Promotion Authority, Oman Airports Management Company and Kilimanjaro International Airport, Oman Society for Petroleum Services and Association of Tanzania Oil and Gas Service Providers, Al Bashayer Meat Company and the Tanzanian National Company for Live Animals, and between Oman Food Investment Holding Company and Tanzanian Horticultural Association.

H E Sayyid Badr Hamad al Busaidi, Foreign Minister, told ONA that an agreement was signed to establish an investment fund between Oman and Tanzania. “The fund will invest in projects of value to the two countries in various fields, including agriculture, fishing and mining.”

H E Sayyid Badr stated that trade exchange between the two countries will increase following the MoUs inked on Monday, besides the existing agreements between OIA and its Tanzanian counterpart. He added that the two countries will sign MoUs in various other economic, investment, energy and tourism fields at a later date based on a work programme set for those agreements.

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