Pakistan, Oman vow to enhance trade relations

Web DeskWeb Editor

04th Aug, 2021. 10:54 am

ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry acting president congratulated the Omani counterpart on his appointment as the Oman Chamber of Commerce and Industry (OCCI) chairman and expressed the hope that the trade relations between Pakistan and Oman would further strengthened and expanded under the stewardship of Eng Redha Al Saleh, a statement received here from Muscat said.

During a webinar, organised by the Pakistan Embassy in collaboration with the FPCCI and OCCI, Ambassador of Pakistan to Oman K K Ahsan Wagan, in his opening remarks, highlighted the importance of complementing each other in this era of geo-economics.

He said some of the major impediments in reaching optimal level of bilateral trade are the lack of high level visits, including visits of business delegations, the lack of direct connectivity between the two countries and the lack of holding trade exhibitions on both sides.

The ambassador also talked in detail about the China-Pakistan Economic Corridor (CPEC) and investment opportunities in Gwadar.

The OCCI chairman also endorsed that there has been fluctuations in bilateral trade levels in recent times and this webinar will pave the way for intra-regional trade and increase in the number of joint investment projects since Oman has now many business-friendly laws in place, including Foreign Capital Investment Law, Privatisation Law and the Public-Private Partnership Law.

Oman’s Ambassador to Pakistan Sheikh Muhammad Omar Al Marhoon reiterated that Oman has been and will keep on extending all support to the businessmen from both countries.

Both sides reviewed a range of issues of common interests in the field of economic cooperation and emphasised the need to explore numerous investment opportunities in different fields, including fruits, vegetables, pharmaceuticals, meat, mining and construction sectors.

The significance of CPEC, Gwadar and Duqm Ports, for possible future collaboration, was mutually acknowledged and recognised by the two parties.

The segment of open discussion during the webinar included introduction of business people from Pakistan and Oman for future interactions. Both sides reiterated and encouraged continuation of such webinars/virtual meetings, which will lead to increase in bilateral trade and commercial relations.

 

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