Oman, China bilateral trade grows by 8% to $15bln till May

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Salalah – The volume of bilateral trade between the Sultanate of Oman and the People’s Republic of China has gone up by 8% in the first five months of 2024 to reach over US$15bn, compared to the corresponding period in 2023.

This was revealed by the Chargé d’Affaires in the Chinese Embassy in Oman during an Omani-Chinese friendship forum in Salalah on Thursday.

The Chinese official pointed out that the major projects, which are being implemented at present, are in the fields of new energy, mining, electricity generation, information technology and communications in Oman.

The forum – ‘New Tracks of Cooperation Pave the Way for a Common Future’ – organised by Al Roya newspaper, the Chinese Embassy in Oman, and the Oman-China Friendship Association, had the presence of H H Sayyid Marwan Turki al Said, Governor of Dhofar, as the chief guest.

The forum laid emphasis on the historical relations as a springboard for establishing a more prosperous future. It was attended by specialists and experts, who studied determinants of bilateral cooperation.

Hatim Hamad al Ta’ee, editor-in-chief of Al Roya newspaper, said that the commercial exchange between Oman and China exceeded US$40.45bn.

Chinese investments in Oman stood at over US$6.6bn, with investments in the energy and petrochemicals sector comprising 76%, Ta’ee added.

In his address, the Chargé d’Affaires said that the city of Salalah has special importance in the context of Omani-Chinese friendship.

“Salalah is an important historical station for commercial exchange along the ancient Maritime Silk Road. The famous Chinese navigator Zheng He and his fleet made several visits to Salalah 600 years ago, bringing Chinese silk and porcelain and returning with Omani frankincense and spices.”

The Chinese official noted that his country has emerged as the largest importer of Omani crude oil.