MUSCAT — The bilateral relations between Oman and India have touched RO 1.7 billion including the re-exporting of a whopping RO 55 million.
The export from Oman to India marks a 55.9 per cent growth rate compared to the previous years when a five years average is taken, according to sources at the Ministry of Commerce and Trade.
“The bilateral trade relations between Oman and India have been marching on a positive note and our exports to India have touched RO 1.7 billion including the re-exporting of a RO55 million”, Ahmed bin Sulaiman al Maimani, Under Secretary for Administrative and Financial Affairs, Ministry of Commerce and Industry said.
Speaking to Observer on the sidelines of the 5th Indian Trade Fair 2012 at the Oman International Exhibition Centre, Seeb, he said the exhibition was an interpretation and translation of the relationship between Oman and India and a good example for the effective participation of both private and public sectors of both countries.
“In 2011, the imports from India were around RO 437 million which include machinery, agro products, automobile, and several other products. There has been substantial increase in imports and the growth rate was 4.8 per cent making the trade balance is in favour of Oman.”
The 5th Indexpo Muscat 2012 is organised by Silver Star Corporation LLC with the active support of Department of Commerce, Ministry of Commerce & Industry, Government of India, Embassy of India, Muscat, Oman Chamber of Commerce and Industry (OCCI), All India Association of Industries (AIAI), Associated Chambers of Commerce and Industry of India (ASSOCHAM), Basic Chemicals, Pharmaceuticals and Cosmetics Export Promotion Council, Coconut Development Board, Confederation of Real Estate Development Authority of India, Export Promotion Council for
EOUs and SEZ, Federation of Indian Chambers of Commerce and Industry (FICCI), Federation of Indian Export Organisations (FIEO), Khadi and Village Industries Commission (KVIC), PHD Chamber of Commerce and Industry, Project Exports Promotion Council of India, Pharmaceuticals Export Promotion of India and various other organisations in Oman and India.
An elaborated arrangements has been done for the success of 5th INDEXPO MUSCAT 2012 and business interaction at the Embassy level and Seminar and B2B meetings at Oman Chamber of Commerce and Industry to coincide with the 5th INDEXPO MUSCAT 2012 organised by Federation of Indian Chambers of Commerce and Industry (FICCI), New Delhi in association with Oman Chamber of Commerce and Industry (OCCI).
India is already the third largest exporter of products and services to Oman and would likely to become number one slot within next five years taking into account the increasing trade and economic relations and many joint ventures in force between the two countries, it is reiterated and emphasised again.
Source : main.omanobserver.om