· SOHAR to join group led by H E Dr Ali al Sunaidi, Minister of Commerce and Industry
· Forum to promote bilateral relations, grow trade surplus from US$2.5bn seen in 2013
· Japan International Cooperation Agency first recommended the site for SOHAR in 1990
SOHAR
Port and Freezone will be represented in a 42-strong delegation
comprised of senior government and private sector officials set to hold
talks with Japanese leaders later this month. As the centre piece in
Oman’s efforts to diversify its economy and boost trade relations with
the Asian powerhouse, the meetings will provide an opportunity to
showcase double-digit growth following US$15 billion investment in the
site that the Japanese International Cooperation Agency first
recommended it for a port and free zone in 1990.
“Japan
has been a long-term friend of SOHAR and played an influential role in
its formation over a decade ago. Since then we have been delighted to
watch as bilateral trade relations have grown, and aligning the needs of
Oman and Japan’s respective economies through the creation of
demand-drive goods and services remains high on our list of priorities,”
declared SOHAR Executive Commercial Manager, Edwin Lammers.
“Much
has already been achieved to this end, with oil and gas and aluminium
products featuring heavily among the goods exported from SOHAR to Japan.
And as Oman continues to push the boundaries of its economy and upgrade
technological infrastructure, the opportunities for Japanese companies
to play a part in guiding Oman’s development trajectory are also very
clear and we actively welcome new partnerships.”
According
to economic figures from 2013, Japan is a major contributor to Oman’s
economy, which benefits from a US$2.5 billion surplus. This surplus
includes imports from Japan of US$3.13 billion, which are offset by
exports of US$5.63 billion. And, while oil, gas, aluminium, and fishing
produce make up the bulk of the exports, the fact that SOHAR has signed
deals that will increase auto throughput to 200,000 annually bodes well
for the development of new revenue streams. Toyota, Daihatsu, and Nissan
among already among the global manufacturers that are handled at the
port through agreements with national businesses houses.
During the course of the two-day engagement, which will run from 23-24 October,
discussions are expected to focus on exploring opportunities for
increasing non-oil exports from Oman, while encouraging further inward
investment through the major pillars outlined in the Sultanate’s Vision
2020 economic development plan. These pillars include its burgeoning
port developments and a series of ambition transport projects.
“The
visit shows the high esteem with which the government, businesses, and
people of Oman hold their relationship with Japan, and the vision of
building on shared ideals for the future,” Mr Lammers concluded.
