MUSCAT, OCT 3
In efforts of strengthen bilateral trade between the Sultanate of Oman and the Federal Republic of Germany, the Oman Chamber of Commerce and Industry (OCCI hosted the Omani-German Business Forum here on Wednesday, October 4, 2023.
The forum was attended by a German commercial delegation, in addition to several Omani and German business owners.
In a press statement, Second Deputy Chairman of the Chamber's Board of Directors, Eng. Hamoud al Saadi, shed light on trade relations between the two countries, "It is well known that the Sultanate of Oman and the Federal Republic of Germany have strong trade relations that have contributed to the development of cooperation and partnership, strengthening business relationships between the two friendly nations."
He added: "This visit [by the German commercial delegation] underscores the mutual desire between the two friendly countries to enhance partnership and cooperation in various economic and investment fields." According to an OCCI representative, the forum planned to target a wide range of industries, including renewable energy, transportation and logistics, tourism, real estate and construction, healthcare, petrochemicals and the legal sector.
Al Saadi also emphasised the importance of trade delegations across countries in fostering trade relations and expanding opportunities for mutual investment and commerce. Elaborating that trade delegations facilitate cooperation, knowledge exchange, and enable the facilitation of import and export operations between nations.
According to external trade data, the trade volume between Oman and Germany reached RO 201.8 million in 2021. German exports to Oman were estimated at RO 172.9 million, and Omani exports to Germany stood at RO 28.8 million.
Key German imports included vehicles, chemical and pharmaceutical products and machinery. Omani exports included medical and pharmaceutical products, electronic equipment, tuna, minerals, electric cables and plastic products.
In 1978, both nations established the Omani-German Joint Economic Commission with the aim of developing bilateral economic and trade relations.
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