Oman is becoming the center of attention as an emerging market with significant opportunities for Pakistani investors and job seekers.
Pakistan and Oman share a long-standing relationship built on historical, cultural, and economic ties, enhanced by their geographic proximity across the Arabian Sea. This connection is strengthened by the significant Baloch community in Oman, which traces its roots to Pakistan’s Balochistan province, fostering cultural bonds between the two nations.
Diplomatic relations have been cordial since Pakistan’s independence in 1947, with both countries cooperating in various global and regional forums like the United Nations and the Organisation of Islamic Cooperation (OIC). Security and defense cooperation are crucial, as Oman’s strategic location near the Strait of Hormuz is vital for regional stability, maritime security, and counterterrorism efforts.
Economic ties are growing steadily, with Oman emerging as a key trading partner for Pakistan within the Gulf Cooperation Council (GCC). Pakistan exports textiles, food, and agricultural products, while Oman supplies oil, gas, and petrochemicals. The proximity of Oman to Pakistan’s Gwadar port, part of the China-Pakistan Economic Corridor (CPEC), offers opportunities for expanding trade routes and economic collaboration.
Recently, a high-level Omani delegation visited Pakistan in late July 2024, led by Ibtisam al Farooji, Under-Secretary of Investment Promotion at Oman's Ministry of Commerce, Industry and Investment Promotion.
The delegation engaged in both Government-to-Government (G2G) and Business-to-Business (B2B) meetings. They focused on enhancing trade relations and exploring investment opportunities in Pakistan, particularly in sectors like energy, agriculture, and infrastructure. The delegation expressed interest in the Special Investment Facilitation Council (SIFC) and Pakistan's ongoing economic reforms, especially under the Green Pakistan Initiative.
As a follow-up to the recent visit of the Omani trade delegation to Pakistan, the Pakistan Embassy in Muscat is organising the Pak-Oman Expo 2024, which will take place from October 13-14, 2024 in Muscat. This event aims to showcase Pakistani exports, including agro-food products, textiles, sports goods, surgical instruments, and IT services etc. to the Omani market.
The Expo is designed to foster trade relations by bringing together Pakistani exporters and Omani buyers, along with opportunities for business-to-business (B2B) and government-to-business (G2B) meetings.
Labour migration is another essential aspect of bilateral relations. Approximately 400,000 Pakistanis work in Oman, contributing to Oman’s economy, especially in construction, services, and healthcare, while remittances from these workers support Pakistan’s economy. Both countries are working to strengthen labor migration frameworks and improve working conditions for expatriates.
Cultural ties, driven by shared traditions and frequent cultural exchanges, along with emerging tourism opportunities, further deepen relations. Improved air connectivity and visa agreements are expected to boost tourism between the two nations, as Omanis explore Pakistan’s scenic destinations, while Pakistanis travel to Oman’s historic sites and landscapes.
Looking ahead, Pakistan and Oman have the potential to expand cooperation in fields such as renewable energy, technology, and education, particularly as Oman pursues economic diversification under its Vision 2040 initiative. Despite regional challenges, both countries remain committed to deepening their partnership, benefiting from each other's strengths and contributing to regional stability and prosperity.
Ahmad Subhani
The author is CEO of Falcon Eye Group
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