https://arab.news/5kupy
- Pakistan’s commerce minister briefs an Omani delegation about investment opportunities in sports, renewables
- The Omani delegation shows interest in getting iron ore, fruits and vegetables from Pakistan due to close proximity
ISLAMABAD: Pakistan plans to set up a new trade mission in Oman, its commerce minister Jam Kamal Khan announced on Tuesday, as the country strives to increase its trade relations with neighboring states, particularly in the Middle East.
Faced with prolonged financial challenges, Pakistan has indulged in active economic diplomacy with friendly nations and tried to strengthen regional connectivity to ensure a smooth flow of trade joining the landlocked Central Asian states with the Middle East and beyond.
Pakistan’s commerce minister discussed the bilateral trade with Oman during a meeting with a delegation from the Arab country that was spearheaded by the undersecretary of investment Ibtisam Al Farouji.
“The Minister warmly welcomed the delegation and underscored the historical ties and economic opportunities between the two nations,” said an official statement released after the meeting in Islamabad.
“Jam Kamal Khan stated that the Ministry of Commerce is in the process of opening a new trade mission in Oman, which will ultimately enhance trade relations between the two countries,” it added.
He highlighted investment opportunities in Pakistan, particularly in the economic sectors like sports, information technology, renewable energy, pointing out that the country offered cheap labor, port handling and logistics.
The official statement said the Omani delegation agreed there was substantial potential to enhance bilateral trade of steel, energy renewables and pharmaceuticals.
The delegation also invited Pakistani investment in Oman’s manufacturing sector, offering incentives such as cheap gas and raw materials.
It also showed interest in acquiring raw materials from Pakistan, due to close proximity and low logistics costs, including iron ore, fruits and vegetables.
Both sides expressed optimism about the future of bilateral trade and investment, underscoring the need for continued dialogue and cooperation to fully realize the economic potential of their relationship.