SALALAH: In commemoration of the 10th anniversary of the Belt and Road Initiative, Li Lingbing (pictured), China’s Ambassador to the Sultanate of Oman, addressed the Omani-Chinese Forum, delving into the historical ties and promising prospects between the two nations.
Highlighting the symbiotic nature of the Belt and Road Initiative, China and Oman have forged a path of mutual benefit and success, said Ambassador Lingbing. This partnership, solidified by the signing of a Memorandum of Understanding (MOU) on the Silk Road Economic Belt and the 21st Century Maritime Silk Road during their 40th diplomatic anniversary in May 2018, has burgeoned over the past five years. The fusion of the Belt and Road Initiative (BRI) with Oman Vision 2040 has yielded profound policy alignment and elevated trade engagement, she stated.
Underscoring this collaboration, bilateral trade between the two countries soared to $40.45 billion in 2022, recording an impressive 25.8 per cent year-on-year growth. China's imports from Oman amounted to $36.24 billion, a 26.7 per cent increase from the previous year. Chinese direct investments into Oman rose 116.75 per cent, culminating in an aggregate of $21.74 million.
The synergy established under the "Belt and Road" framework has nurtured thriving cooperation between China and Oman, the Ambassador pointed out. PetroChina's substantial contributions to Oman's Block 5 since 2002 have catalyzed remarkable growth in oil and gas production, culminating in a remarkable 2022 output of 2.7 million tonnes, with a daily average of 49,200 barrels. In tandem, Huawei's commitment has materialized in an impressive 97% Omanization in its workforce, coupled with robust expansion of its ICT training infrastructure across Oman.
The collaboration extends into Oman’s national grid, with the State Grid of China participating in the network since March 2020. On the educational and vocational fronts, over 150 training courses in China have benefitted more than 850 Omanis during 2022. Noteworthy are the 86 Omani students granted Chinese government scholarships for advanced studies in China, Ambassador Lingbing said.
In 2023, an array of Chinese enterprises spanning manufacturing, mining, new energy, and satellite communications have initiated novel investment and engineering ventures in Oman. Huaxin Cement's infusion into Oman's building materials production seeks to refine cement manufacturing processes, catering to domestic and regional consumption. Besto Hengda Oman's commitment, with an investment of $230 million, converges on ferrous alloys and premium recycled wrapping paper, while Starvision's collaboration in remote sensing satellites underscores the dynamic tech engagement.
The fisheries sector is also witnessing increased investments from multiple Chinese firms, fostering increased production and broader fishing cooperation.
Various Chinese speakers also highlighted the successes of the "Belt and Road" initiative in Oman.
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