Turkish delegation reviews business prospects in Oman
The chairman of the Public Authority for Investment Promotion & Export Development (PAIPED), Salem bin Nasser Al Ismaily has received a Turkish trade delegation, which aims at strengthening business ties between the Sultanate of Oman and Turkey and promote trade and investment.
Led by M. HayriErol, Turkey's ambassador to the Sultanate, the high-profile Turkish delegation comprised businesses operating in sectors ranging from construction, environment to waste water. Discussions focused on the current international business environment and the opportunities that exist in Oman for construction, tourism, manufacturing, logistics and high-tech businesses.
"The relationship between Turkey and the Gulf region is deepening. Historically, Turkish contractors have had a long-standing presence in the Middle East and Gulf infrastructure projects have provided a growing share of their international business. Indeed, nearly 20 percent of Turkey's 2009 exports went to the Middle East, some $19.2 billion worth of goods compared to 12.5 percent in 2004. And as Europe's fastest growing economy, I fully expect Turkey to become closely integrated with Oman and the Gulf Cooperation Council states," said Al Ismaily "From today's discussions, it is obvious that Oman is of serious interest to Turkish businesses," the PAIPED chairman added. Potential for growth Nisreen Ahmed Jaffer, PAIPED director-general (Investment Promotion Department) said; "The authority plays a pivotal role in courting the interest of foreign companies and an emerging economy such as Turkey is of significant importance to today's business world. We are confident that the strong leads coming out of our meeting with the ambassador and his delegation will contribute towards Oman attracting further inward investment interest from Turkey.
" The meeting will certainly help link Omani businesses with Turkish companies that could benefit from their products and services, providing both sides with opportunities to develop beyond their borders. Turkey is an important market because of its potential for growth. With a population of approximately 67 million, the domestic market is predominantly urban, with at least 17 major cities having a population in excess of 1 million, led by Istanbul, Ankara and Izmir.