TANZANIA and Oman have agreed to enhance cooperation in various areas of development, including energy and mining sectors.

Others are creating a favourable investment environment and exchanging experiences and training on tax matters as well as eliminating double taxation for investors and traders operating between the two countries.

This was stated in Dar es Salaam yesterday during a meeting between Finance Minister Dr Mwigulu Nchemba and Omani Ambassador to Tanzania, Saud Al-Shidhani.

Dr Nchemba said that the main agenda of the government is to empower the private sector by easing the business and investment environment, adding that cooperation between the two countries will significantly benefit the private sector and investors.

“Our two governments have established a Joint Permanent Commission overseeing areas of cooperation between our countries, including trade and investment. I expect there will be opportunities to further expand our development cooperation for the benefit of our people,” he said.

He agreed to the Ambassador's request, emphasizing the importance of his country learning more about Tanzania's tax systems since the Tanzania Revenue Authority has substantial experience in this area and Oman just recently began imposing taxes.

“We look forward to training cooperation, especially in tax matters and in areas where our two countries have specific expertise. The goal is to build each other's capacity so that we can benefit more,” said Dr. Nchemba.

Ambassador Al-Shidhani praised Tanzania for its progress in tax matters and identified opportunities for capacity exchange in tax issues as one of the major cooperation areas between the two countries.

Al-Shidhani stated that trade between the two countries has significantly increased and there is great potential to eliminate double taxation for investors and traders operating between them.

“We would like to say that Oman wants to learn how to handle revenue collection since Tanzania has already made progress in these matters and we have only started in recent years so we have a lot to learn,” he said.