The UAE is one of Tanzania’s largest trading partners enjoying the partnership for many years. The trade balance between the two nations stands at $3 billion annually, in favor of the UAE. In 2013, the UAE imported $85 million worth of goods from Tanzania, with Tanzania importing $1.14 billion worth of goods from the UAE the same year. The Khalifa Fund For Enterprise Development, signed a Memorandum of Understanding (MoU) with the Ministry of Finance and Planning of Tanzania to provide Dh 36.8 million ($10 million) towards the development of micro, small and medium-sized enterprises in Zanzibar. The MoU signed by Hussein Jasem Al Nowais, Chairman of Khalifa Fund for Enterprise Development, mirrors the UAE’s commitment to contribute actively to the government’s efforts to promote economic and social development in fraternal friendly countries and to boost economic and social stability. The agreement will provide funding for about 2,000 expected projects to contribute to creating more than 9,000 jobs for young people in Zanzibar in the coming years. In November 2019, Tanzanian archipelago Zanzibar penned a Production Sharing Agreement (PSA) with RAK Gas LLC. state natural gas utility of the Emirate of Ras al Khaimah (RAK) in the UAE. The historic signing permits the exploration, production, development and sharing of benefits derived from the hydrocation resources. The milestone liberates Zanzibar to exploit its natural resources and impact its economy and lives of its people. The UAE has emerged in recent years as an important protagonist in the Horn of Africa. Through political alliances, aid, investment, military base agreements and port contracts.
