Pakistani Investors Encouraged to Explore Lucrative Opportunities in Oman
Published on: December 3, 2023.
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KARACHI: Consul General of Oman, Sami Abdullah Salim AlKhanjari, highlighted the lack of investment from Pakistan in Oman despite the close relations between the two countries. While Oman boasts five exceptional ports, including Salalah, Qalhat, Sohar, Duqm, and Sultan Qaboos, which have attracted substantial investments from China, Saudi Arabia, UAE, India, and many other nations, Pakistan has yet to tap into this potential.
During a meeting with the members of the Karachi Chamber of Commerce and Industry (KCCI), AlKhanjari expressed his dissatisfaction with the limited trade between Pakistan and Oman. Despite the proximity of the two countries, there has been no significant trade growth.
Although Pakistan exports rice, mangoes, and potatoes to Oman, the country is missing out on exporting other agricultural products such as onions, chilies, carrots, lemons, and more, which can be delivered fresh. Instead, Oman relies on imports of such products from distant countries like China, Vietnam, Australia, New Zealand, Ethiopia, and Somalia.
To improve the existing trade volume, AlKhanjari advised the business community of Karachi to explore the possibility of exporting more fruits, vegetables, and agricultural products to Oman. Pakistani rice, renowned as one of the best in the world, holds significant export potential for Oman. Additionally, Oman has a demand for not only frozen meat but also live meat.
Despite the potential for exports, Pakistan has yet to tap into Oman’s market for textile and leather products, including towels and garments. Addressing the issue, AlKhanjari mentioned that if visa problems were hindering trade, they were actively being dealt with. Furthermore, a study is underway to introduce a unified ‘One Visa’ for all GCC countries, similar to the Schengen visa. Although there are security concerns to address, AlKhanjari assured that the ‘One Visa’ facility would be launched soon.
In conclusion, Pakistan has the opportunity to strengthen trade relations with Oman by exploring new avenues for exporting agricultural products and capitalizing on the demand for Pakistani rice, as well as textile and leather products. Both countries stand to benefit from increased trade and investment.
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