Oman, India volume of trade exchange is close to OMR 6 billion

Muscat: The Omani-Indian Joint Committee held a virtual meeting on Monday 19th October 2020, which discussed means of strengthening cooperation relations between the two friendly countries in various economic, trade, investment and service fields and to raise the volume of trade exchange between them.

The Omani side was chaired by Qais bin Muhammad Al Yousuf, Minister of  Commerce, Industry and Investment Promotion, and on the Indian side was chaired by Hardeep Singh Puri, Minister of State for Commerce and Industry of the Republic of India.

The two sides stressed the importance of holding such meetings to achieve the goals, implement agreements and follow up them on an ongoing basis.

The committee called on Indian investors to invest in promising sectors in the field of renewable energy, such as wind and solar energy, food security projects, cooperate in the field of space, invest in the tourism sector and the health sector, cooperation in the field of information technology and support for small and medium enterprises. The committee also focused on facilitating the entry of goods into the Sultanate.

The meeting was attended by Asila bint Salim al-Samsami, Undersecretary of the Ministry of Commerce, Industry, and Investment Promotion for Investment Promotion, Eng. Ridha bin Juma Al Salih, Chairman of Oman Chamber of Commerce and Industry (OCCI) and a number of officials from both sides.

It is noteworthy that the Sultanate has a remarkable economic cooperation with the Indian side, registering a growth in Omani exports to India by 0.69 percent. The volume of trade exchange between the Sultanate and India has reached more than RO 5.93 billion. The Indian exports to the Sultanate have risen 33 percent in 2019.

source: Omannewsagency