An Examination of Economic Diplomacy in Promoting Investments: The Case of Tanzania, Oman and United Arab Emirates.

Saleh, Ali Ahmed (2015) An Examination of Economic Diplomacy in Promoting Investments: The Case of Tanzania, Oman and United Arab Emirates. ["eprint_fieldopt_thesis_type_phd" not defined] thesis, The Open University of Tanzania.

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Abstract

The purpose of this study was to examine why there has been low level of economic cooperation between in Trade and Investment between Tanzania and GCC member states. Specifically the study wanted to study wanted to find out the readiness of the private sector and how favorable were the structural trade mechanism and legal framework in promoting the trade and investment between Tanzanian and Oman and United Arab Emirate. A total of 69 respondents were engaged by the study (i.e. 40.4% female and 59.6% males). These included officials from the government ministries, chambers of commerce, investment promotion agencies, parliamentary committee, business community members among others. The main finding reveals that, there was low level of preparedness of the private sector to promote investment in Tanzania as compared with the strong and buoyant private sector in Oman and United Arab Emirates. It was further revealed that the existing trade structural mechanisms in Tanzania were different with the structural trade mechanism in GCC countries. The GCC countries had relatively better terms and conditions when comparing with that of Tanzania likewise the legal frame work existing in Tanzania and GCC played a different role to promote trade and investment. This was facilitated by different level of development as well as different of interests among different countries. The study recommends that, there is a need to promote an expanding role of the private sector in its broader context and revisit legal and structural trade mechanism in an effort to promote close economic links between Tanzania and the Gulf Cooperation Council countries.

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