Oman and Tanzania: A New Chapter in Trade and Cooperation
Muscat: On the sidelines of the Advantage Oman Forum held during the past two days, His Excellency the Advisor of Foreign Trade and International Cooperation in the Sultanate of Oman engaged in fruitful discussions with His Excellency the Permanent Secretary for Industry and Trade of the Republic of Tanzania. This meeting not only underscored the enduring friendship between the two nations but also set the stage for a promising future for cooperation in trade.
The historical ties between Oman and Tanzania stretch back centuries, rooted in a shared legacy of maritime trade and cultural exchange. Both Ministries aim to build a bridge of opportunity that not only enhances their economic landscapes but also deepens the bonds of friendship within the historical ties between the two nations.
His Excellency Pankaj Khimji expressed his enthusiasm for the discussions, highlighting the potential for Oman and Tanzania to strengthen their economic partnership through a joint framework. 'The diverse resources and vibrant markets of Tanzania present a wealth of opportunities for Omani businesses. Together, we can unlock new avenues for growth that will benefit both nations.' stated His Excellency.
The Tanzanian delegation echoed this sentiment, expressing a keen interest in enhancing trade ties with Oman. Their commitment to fostering collaboration aligns seamlessly with Oman's vision of becoming a regional hub for trade and investment. The discussions encompassed various sectors, including agriculture, tourism, and manufacturing, reflecting a shared ambition to diversify our economies and create sustainable growth.
United by a common history and mutual respect, both parties are eager to embark on a journey of economic prosperity. The Advantage Oman Forum serves as a testament to Oman's commitment to fostering international partnerships and a promising start to the future of trade between Oman and the world.
© Muscat Media Group Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Tourism Breaking News
a day ago
- Tourism Breaking News
Oman Air joins oneworld alliance
Post Views: 64 oneworld welcomes Oman Air as its 15th member airline. As the flag carrier of the Sultanate of Oman, Oman Air strengthens the alliance's presence across the Middle East and unlocks new opportunities for global travel. 'We are proud to welcome Oman Air to the oneworld family,' said Nat Pieper, CEO of oneworld. 'Oman Air brings valuable strategic reach and award-winning product and service to the alliance. This partnership opens up exciting new connections for our customers, particularly across the Gulf and South Asia, and reinforces oneworld's position as the premium alliance for international travellers.' Effective 1 July, oneworld customers can access an extended network of destinations across Oman Air's growing global schedule — including the launch of a new non-stop Muscat–Amsterdam service. As a full oneworld member airline, Oman Air will provide oneworld Emerald, Sapphire, and Ruby customers with benefits including earning and redeeming miles, earning status points, priority check-in and boarding and lounge access. Likewise, Oman Air's top tier customers will gain access to oneworld priority benefits including a network of nearly 700 premium airport lounges globally, as well as newly opened oneworld branded lounges in Amsterdam's Schiphol and Seoul's Incheon Airports. 'Oman Air is honoured to be joining the oneworld alliance, whose members and global footprint represent the best of what international travellers want to experience,' said Con Korfiatis, CEO of Oman Air. 'We are thrilled to be able to welcome oneworld customers to the Sultanate of Oman to experience our unique culture, stunning mountain excursions, beautiful beaches, and, above all, the warm hospitality of the Omani people.' Oman Air, with its hub at Muscat International Airport, serves 42 destinations across 22 countries and territories globally, including key oneworld hubs around the world. The airline offers three cabins, including its exclusive Business Studio with private suites on select longer-haul flights. Known for its exceptional in-flight hospitality, the airline has received several international awards including most recently Best Food & Beverage and Best Cabin Service in the Middle East at the Apex 2025 Awards. In late 2024 it also became one of only 10 airlines in the world to be awarded the prestigious APEX WORLD CLASS by YATES+ award, and the first to gain the APEX WORLD CLASS by YATES+ status for its Business Class Lounge at Muscat International Airport.
Fintech News ME
6 days ago
- Fintech News ME
Oman Becomes First Gulf Nation to Introduce Personal Income Tax
Oman has issued a royal decree to introduce a personal income tax, becoming the first Gulf nation to implement such a measure, its tax authority announced on June 22. The move is part of the country's broader efforts to diversify revenue sources and reduce reliance on oil. As one of the smaller economies in the Gulf, Oman launched a medium-term fiscal plan in 2020 aimed at cutting public debt, expanding non-oil income streams, and supporting economic growth. These measures have contributed to an improvement in the nation's public finances. Under the new law, a 5% tax will be levied on taxable income exceeding 42,000 Omani rials annually. The tax is set to take effect in 2028 and is expected to affect roughly 1% of the population. 'The law also includes deductions and exemptions that take into account the social situation in the Sultanate of Oman, such as education, healthcare, inheritance, zakat, donations, primary housing,' the tax authority stated.
Al Etihad
22-06-2025
- Al Etihad
Sultan of Oman issues Royal Decree on Personal Income Tax Law
22 June 2025 19:13 MUSCAT (ALETIHAD)His Majesty Sultan Haitham bin Tarik on Sunday issued Royal Decree No. (56/2025) promulgating the Personal Income Tax Law, after the same was presented before the Council of (1) states that the 'Personal Income Tax Law', attached to this decree, shall be (2) stipulates that the Chairman of the Tax Authority shall issue the Executive Regulation of the law attached to this decree within one year of the date of publication of the same in the Official Gazette. The Chairman of the Tax Authority shall also issue the decisions necessary for the implementation of the Law's provisions. Article (3) cancels the clause (1) of the article (18-bis) of the Income Tax Law issued by Royal Decree No. (28/2009). It also cancels all that contradicts the attached law or contravenes its provisions. Article (4) says that this decree shall be published in the Official Gazette and enforced from January 1, 2028. Know the law The Personal Income Tax Law consists of 76 articles distributed across 16 chapters. The law will impose a 5% tax on the taxable income of natural persons whose gross annual income exceeds 42,000 Omani Rial, derived from specific income types as defined by the law. The law will come into effect at the beginning of Tax Authority said that the Personal Income Tax Law complements the tax system in line with Oman's economic and social conditions and aligns with the role assigned to the Tax also contributes to the objectives of Oman Vision 2040 by diversifying income sources and reducing reliance on oil revenues, with targets of 15% of GDP by 2030 and 18% by 2040. Additionally, the tax aims to promote wealth redistribution among societal segments, enhancing social justice, while supporting the state budget and specifically financing part of the social protection Authority also affirms that the implementation of the personal income tax follows an in-depth study assessing its economic and social impact, based on income data from various government entities. The study established a carefully considered exemption threshold, revealing that approximately 99% of Oman's population will not be subject to this the exemption threshold is set high at 42,000 Omani Rial, and the tax rate is low at 5%. The law also includes deductions and exemptions accounting for social considerations in the Sultanate of Oman, such as education, healthcare, inheritance, zakat, donations, primary housing, and other Mubarak Al Saadi, Director of the Personal Income Tax Project, confirmed that all necessary preparations and requirements for implementing the tax have been completed. The executive regulations of the law will be issued within one year of its publication in the Official told Oman News Agency (ONA) that an electronic system has been developed by the Tax Authority to promote voluntary compliance and has been linked with the departments concerned to ensure accurate income calculation and verification of tax declarations. The Tax Authority has also strengthened its workforce through specialized training programs in line with the tax implementation requirements. Additionally, guidance manuals for natural and legal persons will be published according to a predetermined schedule.
