Oman Team to Visit Tomorrow to Promote Bilateral Trade
Islamabad: According to Oman News Agency (ONA), an OCCI delegation will arrive in Pakistan on Tuesday to promote bilateral trade and investment.
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Redha Al-Saleh would be leading the Oman delegation. The team will meet with the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), members of the Ministry of Commerce and Investment, and the Islamabad, Lahore, and Karachi chambers of commerce and industry. During their five-day tour, the delegation will visit several industrial sectors and food and pharmaceutical enterprises in Pakistan.
According to ONA, the majority of Pakistan’s exports to Oman consist of food, fruits and vegetables, and oil and gas transmission pipes. Oman’s major exports to Pakistan include polypropylene, oil and gas, and household items. Pakistani imports reached approximately $162 million in 2019, while exports totaled $145 million.
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Pakistan has been striving to achieve an improved trade agreement with Oman. In September, Abdul Razak Dawood, the prime minister’s adviser for business and investment, stated that the government would seek similar deals with Saudi Arabia and the United Arab Emirates, despite the fact that discussions with the Gulf Cooperation Council (GCC) had ceased.
In 2004, the GCC, which consists of these three states as well as Qatar, Kuwait, and Bahrain, launched free trade negotiations with Pakistan. It has not implemented a free trade agreement since 2015.
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