Geneva: The Sultanate of Oman took part in the high-level opening session of Trade for Peace Week in Geneva, themed "Building Resilience through Trade: Private Sector Engagement for Sustainable Peace."
Idris bin Abdul Rahman Al Khanjari, the Permanent Representative of Oman to the United Nations Office and other international organizations in Geneva, delivered a statement highlighting Oman's experience in utilizing trade as a means for economic development, regional stability, and enduring peace.
He emphasized that Oman exemplifies how trade can promote stability, diversify economies, and pave the way for sustainable advancement. The nation’s approach to economic development has consistently been grounded in a profound recognition of trade's significance.
He further noted that Oman has embarked on a new developmental phase encapsulated in Oman Vision 2040. This vision marks a pivotal moment in the country’s holistic national development strategy, aiming for economic growth, social equity, and environmental sustainability. A primary focus is on continuously enhancing capabilities to adapt to market changes and future demands.
He also highlighted that Oman Vision 2040 underscores the necessity for effective economic leadership characterized by clear mandates, established authority, and a prompt response to developmental challenges.
Oman has effectively utilized trade as a means to foster development, resulting in notable stability and prosperity. The leadership in Oman has executed strategies aimed at economic diversification, making substantial investments in sectors such as infrastructure, tourism, logistics, manufacturing, and agriculture. These initiatives have not only bolstered the economy but have also created job opportunities, alleviated poverty, and enhanced living standards.
Al Khanjari emphasized that Oman has achieved remarkable progress in trade facilitation, ranking 10th globally for its world-class infrastructure, which includes advanced seaports, airports, and transportation networks. Key ports like Sohar Port play a crucial role in facilitating not only Omani trade but also regional commerce. This infrastructure development positions Oman as a significant player in both regional and international trade, paving the way for economic growth and enhanced regional collaboration.
He noted that Oman has adopted investment-friendly policies that are essential for attracting both foreign and domestic investors. The incentives include up to 100% foreign ownership, tax exemptions for as long as 30 years, competitive pricing for land and services, customs duty exemptions, and the possibility of investor residency for up to 10 years. Additionally, the government has made concerted efforts to cultivate a business environment that promotes entrepreneurship and minimizes bureaucratic hurdles.
In conclusion, he stated that Oman’s diplomatic strategy towards regional stability serves as an important lesson. By prioritizing peacebuilding and nurturing cooperative relationships with neighboring countries, Oman has ensured that its trade partnerships extend beyond mere economic transactions to encompass political and diplomatic dimensions. The country has leveraged its neutral stance to mediate regional conflicts and promote cross-border cooperation.
