oman seeks to diversify trade with pakistan due to dissatisfaction with low trade volumes
Published on: December 3, 2023.
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Karachi: Eng. Sami Abdullah Salim AlKhanjari, the Consul General of Oman in Karachi, expressed his dissatisfaction with the low level of trade between Oman and Pakistan. He urged the business community to explore more opportunities for exports and investment in Oman.
During a meeting with the Karachi Chamber of Commerce & Industry (KCCI), AlKhanjari highlighted the potential for Pakistan to increase its exports of agricultural products, textiles, leather, and other goods to Oman. Currently, Oman imports most of these items from countries such as China, Vietnam, Australia, New Zealand, Ethiopia, and Somalia.
AlKhanjari emphasized the need for Pakistan to export a wider range of agricultural products to Oman, such as onions, chilies, carrots, and lemons. He mentioned that Pakistani rice is among the best in the world and encouraged its further export. He also mentioned the potential for exporting textile and leather products to Oman.
AlKhanjari invited Pakistani investors to take advantage of Oman’s five ports: Salalah, Qalhat, Sohar, Duqm, and Sultan Qaboos. These ports have attracted investment from several countries, including China, Saudi Arabia, UAE, and India.
He assured that the visa issue for Pakistani businessmen and traders would be resolved soon, as Oman was working on introducing a ‘One Visa’ facility for all GCC countries. AlKhanjari noted that there are thousands of Omanis living in Pakistan and around 300,000 Pakistanis working and doing business in Oman.
President of KCCI, Sheikh, said that Pakistan’s exports to Oman in FY23 stood at $193 million, which is below the potential between the two countries. He stressed the need to reduce trade barriers, diversify products, simplify customs procedures, promote SMEs, and foster business collaboration for economic integration.
Sheikh mentioned that the Special Investment Facilitation Council (SIFC) offers a platform for Omani investors to pursue opportunities in sectors such as energy, agriculture, livestock, information technology, and mines & minerals.
There is potential for expanding cooperation between Pakistan and Oman in various sectors, including textile, halal, oil & gas, banks, transportation, and infrastructure development, to accelerate bilateral trade.
Source: [The News](https://www.thenews.com.pk)
