Two heads are better than one: Oman, EU seek to boost bilateral trade, investment
Oman and the European Union (EU) are seeking to boost bilateral trade and investment by providing increased opportunities to the business communities on both sides to trade and exchange information.
A seminar on ‘Access to EU markets and the requirements needed for exporters and investors’ was organised by the Oman Chamber of Commerce and Industry (OCCI) on Thursday at its headquarters.
The event was attended by H E Adam Kulach, ambassador and head of the European Union delegation to Oman, Saudi Arabia, Bahrain, Kuwait and Qatar, and Sofia Munoz Albarran, director-general for trade and head of the South Mediterranean and Middle East Unit at the European Commission.
Speaking at the seminar, Ali bin Salim al Hajri, board member of OCCI, said that Omani exporters wishing to access EU markets should be aware of the existing special requirements of their trading partners and related legislation in the EU countries.
He said, “The standards that are being developed through legislations in terms of brand, certification, quality, health, safety and environment, working conditions and ethics of profession, have become important criterion to take into account in the EU markets. Exporters should focus on the quality of products and must know all the requirements of these markets so that they can compete in and access the EU markets with ease.”
“We also hope that negotiations between the GCC countries and the EU for a free trade agreement will restart, because this agreement will facilitate trade and investment between the two parties with greater ease,” added Hajri.
H E Kulach said that the EU remains a very attractive market, there are opportunities that have not been explored yet, and there is room for Omani exports to the EU markets to grow.
He said, “Oman has oriented itself across the different markets. Oman is a well established commercial partner for some EU member states. The EU markets are much more diversified and they offer lots of opportunities not only to import from Oman, but also for different types of investments that European companies and investors would like to make in Oman.”
H E Kulach said that a big event on 'Blue Economy (for all businesses related to sea)' is being planned in Oman on September 8-9 this year.
“This event will include representatives of the business community from the EU and Oman, and officials from both sides. The aim of the event is to give a boost to our bilateral cooperation in sectors that are very much promising. The event will look into all the sectors related to the sea like fisheries, port construction and management, shipping, environment, tourism, shore protection and sustainable regional development,” he said.
“We will bring representatives of the European business community to see opportunities and exchange information on opportunities with Omani partners. We hope this event will help to boost our bilateral economic and trade relations,” added H E Kulach.
- Calculating the true cost of regional strife
- Just BS? Why Israel's anti-BDS law can't really stop BDS internationally
- Malnourished economy: global hunger leading to $2 trillion loss in world GDP
- Going green: UAE looks to save Dh6.98b a year by 2030 with renewable energy
- Diversify and dump the slump in the GCC