Oman establishes strategic trade centre to boost global market access
The center, formed under the directives of His Majesty Sultan Haitham bin Tarik and the Cabinet, will play a central role in unlocking foreign markets for Omani exports, removing trade barriers, and revitalizing key international agreements.
Speaking exclusively to Oman Observer, Pankaj Khimji, Advisor for Foreign Trade and International Cooperation at the Ministry of Commerce, Industry and Investment Promotion (MoCIIP), emphasized the centre's strategic mission:
'This centre gives Oman the capacity to negotiate better market access in jurisdictions where access is currently restricted.
Reducing both tariff and non-tariff barriers is crucial to enabling the free flow of Omani products and services abroad,' said Khimji.
At a time when global trade is increasingly shaped by regional blocs and strategic alliances, Oman's proactive approach aims to secure favorable trade terms and enhance the competitiveness of its non-oil exports.
The centre also aims to revive and modernize existing Free Trade Agreements (FTAs) and initiate new negotiations with strategic trading partners. In parallel, Oman will strengthen its engagement with key multilateral institutions, including the World Trade Organization (WTO), UNIDO, OECD, and UNCTAD.
'Our FTAs need to be reactivated at a different level. We're not just talking about trade; we're talking about encouraging foreign direct investment (FDI), expanding export volumes, and building long-term partnerships,' Khimji noted.
Looking ahead, Khimji highlighted the importance of aligning the center's work with Oman Vision 2040. The next five years will focus on attracting FDI into high-potential verticals, including metals, manufacturing, and industrial exports.
'We've identified three to four key verticals where Oman can truly become an export-oriented hub. We are already on solid regulatory footing, and our focus now should be on creating a business environment that welcomes investors and supports product clusters for export,' he added.
Khimji stressed that Oman's regulatory frameworks are now more investor-friendly, providing a foundation for industrial diversification and integration into global value chains.
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