The Belgian Foreign Trade Agency (BFTA), a public institution that collects, processes and disseminates statistics related to foreign trade at the national and international levels, has ranked the Sultanate of Oman as one of its favourite trade partners. Oman is ranked 86th in the list of international clients and 89th in international suppliers.
Dennis Gijsbrechts, International Trade Analyst with the BFTA, highlighted the growing volume of trade and business between the two countries and the balance of trade and business.
"Oman and Belgium have conducted EUR 149.4 million worth of business from Belgium to Oman, which is a +24.6 per cent increase in 2024, and EUR 83.7 million worth of goods and services from Oman to Belgium, a +20.3 per cent increase in the first 8 months of 2024. These activities have resulted in a bilateral trade balance of EUR 65.7 million," said Gijsbrechts.
Belgium's major exports in the first 8 months of 2024 included chemicals (31.6 per cent), machinery & equipment (28.4 per cent), and foodstuffs (10.2 per cent). Imports consisted of mineral products (78.6 per cent), base metals (11.6 per cent), and plastics (7.0 per cent), according to BFTA statistics.
The BFTA is responsible for organising the logistical aspects of State visits led by His Majesty the King and co-organises Belgian economic missions chaired by Her Royal Highness Princess Astrid, in collaboration with FIT, Hub.brussels, Awex, and the FPS Foreign Affairs.
The Directorate-General for Bilateral Affairs (DGB) focuses on defending Belgian interests in other countries, particularly in supporting Belgian economic interests.
Gijsbrechts emphasised the need for collaborative steps between Oman and Belgium in business, trade, diplomacy and bilateral relations.
The Royal visit presents an opportunity to discuss common interests, exchange views on global challenges and current issues, and open new horizons for strategic partnerships between the two countries.
This visit aims to enhance cooperation in various fields, including trade, investment, and energy, to elevate bilateral relations to higher levels.
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