Muscat: The 13th World Trade Organization (WTO) Accessions Roundtable ended with an emphasis on Oman's critical role in progressing the organization's goal, as well as the technical aid it has provided to enable the entry of numerous nations.
The meeting, which took place in Muscat, highlighted the Arab region's increasing involvement in the global economic landscape by addressing key themes connected to WTO membership. As one of the world's leading international forums, the roundtable highlighted the difficulties and possibilities associated with integration into the multilateral trading system.
In statements to the Oman News Agency (ONA), officials and experts emphasized the WTO's contribution in strengthening member economies and creating an attractive climate for trade and investment. They highlighted Oman's successful 25-year journey within the organization, noting its active role in technical coordination and continued support among member states, which has aided the development of investment-friendly regulations.
They stressed that Oman's hosting of this worldwide event demonstrates its unwavering commitment to global cooperation initiatives, solidifying the country's role as a vital platform for economic discourse at the regional and international levels. The talks also emphasized the significance of Arab economic integration, investment promotion, and the increasing necessity for equitable and inclusive trade frameworks that correspond with goals for sustainable growth and balanced relationships.
According to Dr. Saleh Said Masn, Undersecretary of the Ministry of Commerce, Industry, and Investment Promotion for Commerce and Investment, the 13th WTO Roundtable is significant because it promotes productive conversation and collaboration inside the multilateral trading system. He underlined that the roundtable was a vehicle for WTO members to exchange ideas and experiences, especially since Oman has worked in recent years to update its legal framework and business climate in compliance with WTO norms.
Masn highlighted that Oman has not just joined the WTO, but has actively contributed to its growth by delivering technical help to other countries, particularly Arab nations, during their accession attempts. He noted that Muscat's hosting of the event coincided with the 25th anniversary of Oman's entrance into the WTO, emphasizing the country's commitment to strengthening its role in the organization, promoting worldwide trade integration, and assisting Arab countries' membership to the international trading system.
Sheikh Khalifa Ali Al Harthy, Undersecretary of the Foreign Ministry for Political Affairs, stressed during his turn that WTO membership is a strategic milestone that offers up vast chances for development and investment while boosting competitiveness. He underlined the necessity of establishing a more transparent and equitable trade climate, allowing developing and emerging nations to fully participate in global marketplaces and improve international ties.
He emphasized the importance of public-private partnerships in attaining sustainable economic development, with the exchange of best practices and success stories assisting aspiring countries in overcoming obstacles and speed trade and economic reforms. He emphasised Oman's long history in regional and international trade, which has been built on its advantageous geographic location and liberal economic policies.
Meanwhile, Pankaj Khimji, Advisor for Foreign Trade and International Cooperation at the Ministry of Commerce, Industry, and Investment Promotion, said that Oman's WTO membership was a strategic step that would allow the country to meet several goals, seize possibilities, and improve its economic position.
He noticed that Oman's investment climate has expanded significantly since the country joined the WTO 25 years ago, with current investments totaling more than $30 billion. These investments span a variety of industries, including food, transportation, oil and gas, and others that entice worldwide investment.
He stated that Oman has inked several free trade agreements, resulting in a welcoming and supportive investment climate supported by rewards and facilitations. The establishment of unified industrial and free zones has also been important in drawing investors from numerous sectors, notably in promising industries that improve Oman's regional and international position.
Hilda Ali Al Hinai, Secretary-General of the ArabSwiss Chamber of Commerce and Industry in Geneva, emphasized Oman's important role inside the WTO, noting that its membership was a strategic move that strengthened the multilateral trading system and fostered a transparent, open investment environment.
She noted that Oman's strong involvement in the organization represents the country's ambitious economic vision and desire to expand global trade ties, in line with its objectives for economic diversification and sustainable development.
Faisal Ali Al Hinai, Deputy Head of Oman's Mission to the WTO, underlined the event's significance as a high-level annual forum for WTO members and aspirant countries. He lauded Oman's efforts to foster Arab and worldwide cooperation under the WTO's umbrella, cementing the Sultanate's status as a hub for economic discussion and trade diplomacy.
Yan Dong, Vice Minister of Commerce of the People's Republic of China, appreciated Oman's significant position in the WTO, saying that the roundtable's convening in Muscat—coinciding with Oman's 25th accession anniversary—provided a unique opportunity to discuss speeding other countries' WTO integration.
He praised Oman's quick economic growth and sustained progress, highlighting the significance of trade links and international ideals in promoting global economic stability. China, he said, is willing to collaborate with all WTO members to protect and improve this system, contributing to global economic stability and shared progress.
Ambassador Xiangchen Zhang, WTO Deputy DirectorGeneral, praised Oman's active contributions to the organization, noting that the 25th anniversary of its entry is an ideal time to reflect on past accomplishments and future aspirations.
He stated that the event compared Gulf Cooperation Council (GCC) members' economic goals and launched a collaborative Arab study outlining the best practices in completed and ongoing accessions. He also commended Oman's leadership in promoting economic diplomacy and regional prosperity.
He underlined the need of broadening WTO membership to bolster global trade links, praising Oman's efforts to economic integration and productive cooperative action. He ended by emphasizing the significance of information exchange among participants and applauding Oman's hosting of similar collaborative events.
