Oman- India bilateral trade ties poised to scale greater heights
Oman-india relations in diverse areas were the limelight of the 8th session of the Oman-india Joint Committee (JCM) which began at the Sheraton Hotel on Monday.
The Indian delegation headed by Suresh Prabhu, Minister of Commerce and Industry and the Civil Aviation for the 2-day meetings met with Ahmed bin Nasser al Mehrzi, Minister of Tourism where both sides had detailed discussions on further bolstering bilateral tourism relations.
Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry welcomed the delegation and held discussions on enhancing the bilateral trade relations between the two countries just before the 8th session of the Joint Committee proceedings.
Business fraternity from both sides were given an opportunity to have B2B meetings where Chairmen of Board of Directors showcased what they can offer to each other’s market demand in the presence of the officials from the Oman Chamber of Commerce and Industry.
Dr Ali bin Masoud al Sunaidy, addressed the Indian businessmen while Indian Minister of Commerce and Industry and Civil Aviation too held a meeting session with the Omani business community.
To facilitate business matchmaking with Omani companies for the Indian delegations, the embassy had also organised ten B2B meetings in sectors like healthcare, infrastructure, construction, IT, minerals and mining, food and hospitality, ceramics, fire and safety etc. The embassy also organised two India Business Forums and an ‘Invest in India’ Seminar. Oman has been optimally availing the allocated slots under the Indian Technical and Economic Cooperation (ITEC) Programme. For 2018-19, 125 slots have been allotted for Officials from Oman for training under ITEC.
The sessions praised that the bilateral trade relations have been buoyant and rose by 67 per cent to reach $ 6.7 billion in 2017-18. Oman imports mineral fuels, mineral oils and products of their distillation; boilers, machinery and mechanical appliances; articles of iron or steel; electrical machinery and equipment, textiles and garments, chemicals, tea, coffee, spices, cereals and meat products and seafood from India to the tune of $2,439.46m while it exports fertilisers; mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes; aluminium and articles thereof; organic chemicals; salt; Sulphur; earths and stone; plastering materials, lime and cement to India to the volume of $4,264.29m.
The 7th session of the JCM and the 8th JBC (coordinated by FICCI and OCCI) were held in New Delhi in October, 2014 along with Omanindia B2B Roadshows. Next meeting of JCM/JBC is scheduled to take place on 27-28 March 2017 in Muscat.
Today, the delegation will be on a city tour to identify key tourism destinations and historic monuments in and around Muscat.
To facilitate business matchmaking with Omani companies for the Indian delegations, the Indian Embassy organised ten B2B meetings in sectors like healthcare, infrastructure, construction, IT, minerals and mining, food and hospitality, ceramics, fire and safety