MUSCAT: An Omani trade delegation, on Tuesday, May 10, have headed to India to discuss strengthening trade and investment cooperation relations with officials and representatives of private sector institutions.

The Omani trade delegation is headed by HE Qais Al Yousef, Minister of Commerce, Industry and Investment Promotion, and accompanied by His Excellency Eng. Redha bin Juma Al Saleh, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry, and the membership of a number of members of the Chamber’s Board of Directors and Omani businessmen who represent various commercial sectors.

His Excellency Eng. Redha bin Juma Al Saleh, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry, said, “The Oman Chamber of Commerce and Industry is participating with a commercial delegation of senior business owners representing the various economic sectors in the Sultanate, as part of the government delegation headed by HE Qais Al Yousef, Minister of Commerce, Industry and Investment Promotion.”

“The delegation includes a number of officials from the government side and a number of business owners within the programs organised by the Chamber. This is in order to enhance aspects of trade and investment cooperation, increase trade exchange and create commercial partnerships between private sector institutions and companies in the two countries. The trade delegation includes a number of businessmen representing a number of vital sectors in the Sultanate.”

His Excellency explained that during the visit that meetings will be held with a number of officials in the Indian government and the private sector. The aim is to discuss facilitating procedures and overcoming all obstacles that prevent the flow of trade between the two friendly countries and setting the necessary plans to raise the volume of trade exchange.

His Excellency pointed out that the volume of trade exchange between the two countries amounted to more than USD 5.3 billion by the end of 2021. It is clear evidence of the development of relations with the friendly Republic of India, and that it is one of the most important trading partners of the Sultanate

The Sultanate and India share huge investment partnerships, as the number of companies on the Indian side, which invests in the Sultanate until 2020, about 4,766 companies, with a total invested capital of 32.45 billion US dollars, and the contribution of the Indian side is 10.64 billion US dollars.

His Excellency stressed that during the visit, the delegation seeks to explore more available investment opportunities that will contribute to strengthening cooperation. through the Omani-Indian Business Council.

His Excellency indicated that a ‘Invest in Oman’ forum will be held with the aim of introducing the investment opportunities and facilities provided by the Sultanate’s government to investors, and holding bilateral meetings between businessmen from both countries to exchange experiences and discuss ways to enhance trade and investment relations between the two sides.