Muscat: On Wednesday, Qais Mohammed Al Yousef, the Minister of Commerce, Industry, and Investment Promotion, welcomed Jam Kamal Khan, the Federal Minister of Commerce from the Islamic Republic of Pakistan, who is visiting the Sultanate of Oman.
The discussion focused on ways to enhance economic relations between the two nations.
Topics included the promotion of promising sectors, the improvement of the business environment, the attraction of investments, the simplification of trade procedures, and the increase of trade exchanges.
The Minister emphasized the robust economic connections between Oman and Pakistan, highlighting the necessity of expanding trade and investment collaboration, as well as strengthening commercial partnerships between private sector entities and companies in both countries. According to data from the National Centre for Statistics and Information (NCSI), as of December 2024, the trade balance is in favor of Pakistan.
Omani exports to Pakistan reached approximately OMR89 million, while imports from Pakistan totaled OMR97.6 million. Key imports from Pakistan include rice, maize, and barium sulphate, whereas Omani exports to Pakistan consist of polypropylene, polyethylene, aluminum, and lead.
These discussions are part of ongoing efforts to strengthen economic and trade relations between the two countries and to explore new avenues for joint cooperation that will benefit both parties economically.
