Palm Oil Networking Seminar 2023 Oman kicks off in Muscat

Muscat: The Oman Chamber of Commerce and Industry organizes a symposium on palm oil networks, in cooperation with the Malaysian Embassy in Muscat and the Malaysian Palm Oil Council.

The symposium aimed at enhancing the trade balance and exploring areas of cooperation and partnership in palm oil networks, in addition to other economic sectors, exchanging experiences and transferring knowledge between the two friendly countries.

Abdul Latif Mohiuddin Khunji, a member of the Board of Directors of the Oman Chamber of Commerce and Industry, said: The symposium focuses on palm oil networks and investment opportunities that can be taken advantage of to include new investments, noting that the volume of trade exchange between the Sultanate of Oman and Malaysia in 2021 amounted to more than 609,367  US dollars, and the value of Omani imports from Malaysia exceeded 395,951 US dollars, while the value of Omani exports to Malaysia amounted to more than 213,416 US dollars.

He added that the symposium reviewed Malaysia’s experience in palm oil, its advantages and uses, and the investment opportunities that Omani business owners and their counterparts from Malaysia can benefit from, as Malaysia is the second largest producer in the world and a major exporter of palm oil.

The symposium included visual presentations from the Omani and Malaysian sides on the importance of Malaysian palm oil and the most important ingredients and facilities provided by the two friendly countries for the advancement of this sector.

On the sidelines of the symposium, bilateral sessions were held between Omani business owners and their counterparts from Malaysia.

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