Activities of the media meeting - 'Oman and The World' hosted the Minister of Commerce, Industry and Investment Promotion, Qais bin Mohammed Al Yousuf, on Thursday.
During a question-and-answer session at the meeting organised by the Ministry of Information, the minister addressed various questions posed by regional and international journalists.
Responding to a question from a Saudi Arabian journalist, the minister emphasised, “We are prioritising industrial cooperation between Oman and Saudi Arabia. We have discussed joint ventures and promoting GCC products. The Saudi-Omani Council on Trade is active, and the indicators are positive.”
Regarding Iraq, the minister highlighted the importance of the Baghdad International Exhibition and expressed the potential for Omani products to attract attention in Iraq. “Many international ingredients are made in Oman. There are vast opportunities for enhancing commercial cooperation. The private sector should speed up partnerships and trade visits. We can also import many Iraqi products into Oman,” he added.
The minister further explained that Oman has prioritised five key sectors: tourism, education, logistics, industry, and food security.
A presentation by the Ministry of Commerce, Industry, Investment and Promotion highlighted incentives for investors.
“His Majesty the Sultan said, ‘We must be proud of our identity and be open to the world.’ While Oman may be a market of five million, by connecting globally, we can reach up to two billion consumers within hours,” said Al Yousuf.
He pointed out that Oman exports to more than 100 countries but believes more can be done. The “Made in Oman” initiative has led to successes, such as Omani batteries used in double-decker buses in the UK, as well as Oman's marbles, perfumes, fish exports, and pharmaceuticals. He further noted that national branding will play a significant role in advancing Omani products.
The minister also mentioned the new center, Export Oman, which helps Omani companies find suitable international markets. “The ministry provides guidance to exporters, ensuring they meet each country's specific standards and requirements,” he said.
When asked about the UK, the minister shared that the GCC is negotiating a Free Trade Agreement (FTA), and they are in advanced stages. Regarding Oman’s relationship with China, Al Yousuf explained that discussions for a GCC-China FTA are ongoing, though it has not yet been signed. The minister also mentioned that negotiations for a Comprehensive Partnership Agreement with India are still underway.
Al Yousuf highlighted Oman’s Start-Up Programme, which supports companies focused on innovation and technology. “Support programmes are being developed to further promote and nurture such businesses. We are linking education with innovation and technology through the Ministry of Higher Education, while also connecting with different countries to promote entrepreneurship,” he added.
Earlier, the Ministry officials explained that Oman’s investment roadmap centers on partnerships, and they are actively addressing challenges and gaps in this area.
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