Oman can act as gateway to GCC, Africa: OCCI

Chairman calls for measures to enhance two-way trade to $1 billion

ISLAMABAD:

Pakistan is a gateway for Oman to access Central Asia, China and other markets, said Oman Chamber of Commerce and Industry Chairman Redha Al Saleh.

Speaking during his visit to the Islamabad Chamber of Commerce and Industry on Thursday, he said that bilateral trade value of around $500 million was not reflective of the actual potential held by the two countries.

He called upon both sides to make strong efforts to elevate the two way trade to at least $1 billion.

“Geographical location of both countries offers great avenues to enhance business and investment relations and Oman can act as a gateway for Pakistan to access Gulf Cooperation Council, Africa and other regional markets,” he said. “Many Pakistanis have invested in Oman and more businessmen should pour money because Muscat is allowing 100% foreign direct investment.”

He added that many Pakistani products were reaching Oman through neighbouring countries therefore there was a need to observe direct trade between the two nations. He was of the view that it could yield excellent results.

He further emphasised on reactivation of the Pak-Oman Business Council to improve trade relations.

Speaking on the occasion Ambassador of Oman to Pakistan Al-Sheikh Mohammed Al-Marhoon said that his country was keen to promote trade with Pakistan as both sides possessed ample potential to cooperate in diverse areas for mutual benefit.

“A ferry service linking Pakistani ports with Oman, Dubai and other regional countries has been under discussion and it will create more opportunities for bilateral trade promotion,” he said.

ICCI Senior Vice President Jamshaid Akhtar Sheikh said that Pakistan and Oman could cooperate in many fields including agriculture, rice, seafood, meat, vegetables, fruits, dairy products, pharmaceuticals, textiles, cotton yarn and petrochemicals.

“Gwadar and Salalah Ports can be used to create good communication channels and promote trade relations between the two countries,” said Sheikh.

He termed visit of Oman’s business delegation right step to uplift business linkages between the private sectors of the two countries.

He urged both nations to encourage the regular exchange of trade delegations to explore all untapped areas of mutual cooperation. Ambassador of Pakistan to Oman K K Ahsan Wagan also accompanied the delegation.

Published in The Express Tribune, January 7^th, 2022.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.