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Islamabad: Federal Minister for Commerce Jam Kamal Khan has announced plans to deepen trade relations with Oman, highlighting the launch of a new trade mission in the country as a pivotal step towards expanding economic ties.
According to Press Information Department, during discussions with a high-level Omani delegation led by Ms. Ibtisam Al Farouji, Minister Khan emphasized the historical bonds and economic potential between Pakistan and Oman. The talks revolved around strengthening bilateral and trilateral trade, with a focus on sectors like IT, sports, renewable energy, and agriculture.
The new “Middle East Reconnect” policy, aimed at fostering closer ties with Middle Eastern nations including Oman, was also discussed. Minister Khan cited advantages such as Pakistan’s cost-effective labor and efficient port logistics as key incentives for Omani investors.
Ms. Al Farouji expressed agreement on the significant opportunities for enhancing trade, particularly pointing to areas such as steel, renewable energy, and pharmaceuticals. She highlighted Oman’s interest in Pakistani raw materials like iron ore and produce, given the logistical benefits due to proximity. The Omani delegation’s ongoing engagements, including meetings with the Pakistani Chamber of Commerce and sector-specific business meetings scheduled in Islamabad, underscore a mutual commitment to elevating economic collaboration.
Both parties expressed optimism about the future of their trade relationship, underlining the importance of sustained dialogue and cooperation to capitalize on their countries’ economic potential.
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