Omani Business Delegation to Visit KSA to enhance trade and investment exchange

Muscat: Oman Chamber of Commerce and Industry (OCCI) will lead tomorrow Sunday a trade delegation to the Kingdom of Saudi Arabia (KSA) to enhance trade and investment exchanges between the two countries in the private sector, while benefiting from Saudi expertise and experiences across various industrial and commercial fields.

The delegation includes several business owners and representatives from small and medium enterprises.

Eng. Said Ali Al Abri, Head of OCCI North Al Batinah Branch and head of the delegation, stated that this visit aims to explore commercial and investment opportunities between Oman and Saudi Arabia, as well as to showcase available investment opportunities in various sectors within the governorate and promote them.

He emphasized that the visit seeks to identify promising investment opportunities in the Kingdom, discuss avenues for commercial and economic cooperation, and increase the volume of exports between the two countries, in addition to exchanging expertise in various fields and building bridges of cooperation between both sides.

Al Abri noted that this visit is part of the strategic plan established by the chamber to enhance economic, commercial, and investment relations between Oman and Saudi Arabia.

According to statistics from the National Center for Statistics and Information, the value of trade exchange between the two countries reached approximately RO 1.14 billion by the end of June 2024. This figure indicates the available opportunities for business owners in both countries to increase the trade balance.

The statistics reveal that mineral products accounted for the largest share of Omani exports to Saudi Arabia, valued at RO 160,547,747 by the end of June 2024, followed by ordinary metals and their products worth RO 95,036,061 and machinery, electrical equipment, and their parts valued at RO 33,592,718.

Al Abri also addressed the Empty Quarter border crossing, stating, “The Empty Quarter road, which directly connects the two countries, plays a significant role in enhancing cooperation prospects across various fields, particularly in the economic domain.

It contributes to expanding the volume of trade exchange and enables Omani exports to reach other countries worldwide, as well as facilitating the passage of Saudi exports through Omani ports.”

He added that this crossing represents a qualitative leap in trade exchange, with the value of goods imported through the crossing reaching RO 159,678,381 by the end of June, totaling 324,529,044 kilograms.  -ONA