By Asim Hussain
ISLAMABAD: Ambassador of the Sultanate of Oman to Pakistan, Al-Sheikh Mohammed Al-Marhoon has said that his country was desirous to boost bilateral trade and economic relations with Pakistan as both countries enjoyed strong political and defence relations, but their trade relations were not reflective of the true potential of both countries.
He stated this while interacting with the business community during his visit to the Islamabad Chamber of Commerce & Industry (ICCI) on Monday. Ambassador Al-Sheikh Mohammed Al-Marhoon said that Pakistani high quality products have great prospects to penetrate Oman’s market and added that chambers of commerce of both countries should play a role to ensure bilateral trade of quality products between them. He said that many Pakistani products were getting labelled in third countries for export at higher prices and urged that Pakistan should ensure direct export of its products by focusing on their branding that would achieve better results for its economy.
He said that peace in Afghanistan would create many new opportunities of trade promotion between Central Asian region and Arab countries through Gwadar and Salalah ports, which would also strengthen trade cooperation between Pakistan and Oman. The envoy also invited Pakistani investors to explore JVs and investments in Salalah Free Zone which offered great incentives including 30-year tax holiday, zero VAT, customs duties exemptions, 100% foreign ownership, only 20% Oman’s requirement, one stop shop services and no minimum capital requirement. He assured that his Embassy would cooperate in enhancing Pakistan’s exports to Oman.
Senior Vice President ICCI, Jamshaid Akhtar Sheikh highlighted trade, tourism, oil & gas exploration, ports, agriculture, construction and healthcare, education as potential areas of mutual cooperation between the two countries.
