Oman, Italy to explore new trade avenues

ROME: Bilateral cooperation between the Sultanate and Italy in economic, commercial and industrial sectors, as well as issues related to subsidising SMEs and the available investment opportunities in both countries will be discussed at a meeting here.

The Omani-Italian joint committee will hold its fifth meeting on Tuesday in Italy to discuss ways to further boost economic cooperation and investment between the two countries.

The Omani delegation is led by Sayyid Badr bin Hamad bin Hamoud Al Busaidi, secretary gen- eral of the Foreign Ministry. The Italian side will be led by Paolo Gentiloni, the Italian minister of foreign affairs.

They will also discuss bilateral co-operation in cultural, educational, scientific research, and transport sectors, in addition to environment, water, agricultural and fisheries sectors.

The foreign trade statistics now point out that the bilateral trade between the two countries is witnessing constant growth. The Omani imports from Italy increased in 2013 and touched OMR215.6 million compared to OMR174.8 million in 2012. The major imports include water tapes, tools, equipment, and porcelain moulds, apart from pipe connectors, pipes, vehicle mounted cement mixers and air exhaust pump parts. Lubricant oil materials, gas cookers and polyethylene sheets were also imported.

The Omani exports also increased in 2013 to touch OMR33.4 million compared to OMR15.7 million in 2012. The major exports to Italy include polyethylene terephthalate, aluminium cables, and methyl methacrylate, apart from polymer sheets and scrap steel.

The Omani delegation includes Ahmed bin Salim bin Mohammed Ba Omar, the Sultanate’s ambassador to Italy, Yahya bin Abdullah Al Araimi, head of the Economic Affairs Division at the Foreign Ministry, Hilal bin Marhoon Al Maamari, head of the West Europe Department at the Foreign Ministry, and Abdul Aziz bin Moosa Al Kharousi, deputy head of the Secretary General’s Department for Programmes and Communication, along with a number of officials.

The delegation also includes His Highness Sayyid Taimour bin Asa’ad Al Said.–