Daily Times

Oman Chamber of Commerce and Industry on Thursday offered Pakistani investors to make investments in its different economic sectors as Oman was now allowing 100 percent foreign direct investment. A business delegation of Oman led by Engineer Redha Al Saleh, Chairman Oman Chamber of Commerce and Industry visited the Islamabad Chamber of Commerce and Industry and held B2B meetings to explore business collaborations with the Pakistani counterparts.

The delegation was representing various sectors including trading, import/export, oil and gas, real estate, textiles and garments, tourism, IT & telecom, agriculture, fabrication and fashion designing.

Al-Sheikh Mohammed Al-Marhoon Ambassador of Oman to Pakistan and KK Ahsan Wagan Ambassador of Pakistan to Oman also accompanied the delegation.

Speaking at the occasion, Redha Al Saleh, said that the bilateral trade of around $500 million between Pakistan and Oman was not reflective of the actual potential of both countries and strong efforts should be made from both sides to take it to at least one billion dollars. He said that the geographical location of both countries offered them great potential to enhance business and investment relations as Oman was a gateway for Pakistan to access GCC, Africa and other regional markets.

Similarly, Pakistan was a gateway for Oman to access Central Asia, China and other markets.

He said that many Pakistanis have invested in Oman and more should come as Oman was now allowing 100 percent FDI.

He said that many Pakistani products were reaching Oman through neighboring countries and stressed that both countries should promote direct trade to achieve better results and emphasized reactivating the Pak-Oman Business Council to improve trade relations.

In his welcome address, Jamshaid Akhtar Sheikh, Senior Vice President ICCI said that Pakistan and Oman can cooperate in many fields including agriculture, rice, seafood, meat, vegetables, fruits, dairy products, pharmaceuticals, textiles, cotton yarn, construction and petrochemicals that should be taken advantage of.

He said that Gwadar and Salalah Ports can be used to create good communication channels and promote trade relations between the two countries. He said that the visit of Oman’s business delegation was the right step to improve business linkages between the private sectors of the two countries.

He urged both countries to encourage regular exchange of trade delegations to explore all untapped areas of mutual cooperation. Al-Sheikh Mohammed Al-Marhoon Ambassador of Oman to Pakistan said that his country was keen to promote trade ties with Pakistan as both countries have good potential to cooperate in many areas for mutual benefit.

He said that both countries were discussing starting a ferry service to link Pakistani ports with Oman, Dubai and other regional countries that would create more opportunities for bilateral trade promotion.

KK Ahsan Wagan Ambassador of Pakistan to Oman said that the Government of Pakistan was focused on a geo-economic strategy to promote Pakistan’s business and economic relations with foreign countries and hoped that the visit of Oman’s business delegation would promote bilateral trade relations between both countries.

He said that the foreign missions of both countries would work in coordination to promote linkages between entrepreneurs of both sides. Muhammad Faheem Khan Vice President ICCI thanked Oman’s business delegation for visiting the ICCI and hoped that their visit to Pakistan would promote business partnerships between the two countries.

The meeting was attended by a large number of members and held B2B meetings with Oman’s delegation.