Oman, UK to extend trade relations

Muscat: Capitalising on its strategic location, infrastructure and talent, Oman is looking to attract United Kingdom's (UK) businesses to set up operations in the Sultanate, helping them connect with the fast growing economies of the Gulf and East Africa.

To this end, and reaffirming Oman’s strong trade ties with the UK, Qais Al Yousef, Chairman of Oman Chamber of Commerce and Industry (OCCI) and Azzan Al Busaidi, CEO of Ithraa, Oman’s inward investment and export development agency, will headline opportunities in Oman seminar scheduled to be held at the Arab–British Chamber of Commerce (ABCC) in London on Thursday. The high-level delegation will also meet with senior UK government officials and key business leaders.

Speaking ahead of their departure for London, Al Busaidi explained that Oman’s connectivity, coupled with a range of strategically located free zones, industrial estates and tech parks offers an attractive mix for UK companies looking to tap into the Gulf’s growing and lucrative market.

The Ithraa CEO added: “As well as boasting word-class infrastructure, Oman's political and economic stability gives UK investors great confidence. The strength and warmth of the bilateral relationship and the long trading history also add to the attraction.”

The OCCI and Ithraa chiefs aim to build on the success of the long-standing Oman–UK trade relationship, the one-day ABCC seminar will give Al Yousef and Al Busaidi an opportunity to showcase the wide-ranging manufacturing, tourism and logistics opportunities on offer in Oman. It will also enable them to connect with the next generation of British companies looking to do business in the Gulf.

“There is no better place in the GCC to establish a business than in Oman. This is the message we’ll be delivering in London this week. In fact, post-Brexit, we’re seeing more UK companies looking to Oman as a strategic location, using it as a hub for trade with the GCC and East Africa. Companies that are benefiting from the Sultanate’s political and economic stability, robust legal system, infrastructure connectivity, multilingual talent and new foreign investment legislation,” pointed out Al Busaidi.

Ithraa’s CEO explained: “Trade promotion services are at the heart of what Ithraa does and we’re particularly proud of our track-record of assisting UK companies set-up in Oman. We also offer a range of inward investment services, advice and market intelligence that give UK firms looking to establish a presence in Oman the edge they need to compete in the Gulf’s highly lucrative market.”

On the export front, Al Busaidi remarked: “Capitalising on the popularity many Omani exports already enjoy in the UK, the London event will give us the opportunity to extend existing ties and forge new relationships with businesses right across Britain."