Saudi Arabia and Tanzania maintain close bilateral relations; Tanzania has an embassy in Riyadh and a consulate in Jeddah, and Saudi Arabia has an embassy in Dar es Salaam.
Saudi Arabia is the third most important destination of exports from Tanzania to the Gulf Cooperation Council (GCC) totaling USD20.7m or 15.37% of the total exported with United Arab Emirates (UAE) toping the Arab block totaling USD84.6m or 62.8% of the total according to the Massachusetts Institute of Technology (MIT).
On the other hand, Saudi Arabia is Tanzania’s second most important source of imports from the GCC totaling USD220m or 12.91% of the total imported with UAE as the main source in the Arab block totaling USD1,140m or 66.94% of the total.
In the beginning of 2016, Saudi Arabia selected Tanzania as a priority country to develop trade, investment and cooperation in the African continent.
The Tanzania-Saudi Arabia Investment Forum, held from December 17 to 21, 2024, in Riyadh, brought together 70 investors and resulted in agreements to explore partnerships in agriculture, energy, manufacturing, and infrastructure. The forum aimed to address the trade imbalance between the two nations and foster sustainable economic collaboration.
Tanzania and Saudi Arabia are set to strengthen trade and investment ties in Riyadh from December 17-21, 2024. Key sectors include mining, agriculture, gas, and manufacturing, offering new growth opportunities for Tanzanian businesses and Saudi investors.
The Kingdom of Saudi Arabia has recently selected Tanzania as a priority country to develop trade, investment and…
April 2, 2016
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