logo
OCCI opens trade office in Washington to boost bilateral business ties

OCCI opens trade office in Washington to boost bilateral business ties

Observer15-05-2025

The Oman Chamber of Commerce and Industry (OCCI) inaugurated the Oman Trade Office in the United States (OTOUS) during a ceremony held at the Sultan Qaboos Cultural Center in Washington, D.C.
The event was held under the patronage of Talal bin Sulaiman al Rahbi, Ambassador of the Sultanate of Oman to the United States, and attended by Sheikh Saud bin Ahmad al Nahari, OCCI Board Member and Head of the Chamber's delegation, along with several OCCI officials and representatives from both the Omani and American public and private sectors.
The establishment of OTOUS marks a significant step towards strengthening economic and trade relations between Oman and the U.S. The office aims to support the export of Omani products to the American market, promote the import of high-quality U.S. goods, attract American investments to Oman, and facilitate the expansion of Omani businesses into the U.S.
OTOUS will also play a vital role in coordinating trade delegations, organising business meetings, and offering guidance on maximizing the benefits of the Oman-U.S. Free Trade Agreement.
In addition, the office will provide economic reports to support decision-making in export development and mutual investments.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

The EU can play it cool with Trump's trade threats
The EU can play it cool with Trump's trade threats

Observer

time10 hours ago

  • Observer

The EU can play it cool with Trump's trade threats

Other governments have so far taken three main approaches to dealing with Donald Trump's trade threats. China hit back hard at the US president's tariffs and got him to back down partly. Canada also retaliated and avoided some of the pain Trump inflicted on other countries. Meanwhile, Britain cut a quick deal that favoured the United States. None of these is a model for the European Union. The 27-member group is not China. Though its bilateral goods trade with the United States last year was worth 70% more than between the US and the People's Republic, the EU is not an autocracy that can outpunch Trump. If it antagonises the US president, he might up the stakes by pulling the rug from under Ukraine and undermining the EU's defences. American hard power gives it what geopolitical strategists call 'escalation dominance'. The EU is not Canada either. Ottawa was able to hang tough because its people were infuriated that Trump was trying to blackmail Canada into becoming part of the United States. While anti-Trump sentiment is high in the EU, politicians who are sympathetic to him, such as Poland's new president, can still get elected. On the other hand, the EU is not the United Kingdom. Both are at risk from Russia's invasion of Ukraine. But the EU trades seven times more goods with the United States than Britain does - so Washington has more to lose if economic relations break down. There is another way for the EU to handle Trump's threats: play it cool. That is more or less what the bloc is doing. It involves neither escalating the conflict nor accepting a bad deal. It means being open to a good agreement if the US lowers its demands, but willing to play the long game if it does not. One reason to buy time is to help Kyiv. The longer the EU has to prepare its own support package for Ukraine, which should include getting it a lot of cash, the less the damage if Trump ultimately cuts off all US aid to the country. The president's own vulnerabilities may also increase over time. Just look at the spectacular end of his alliance with Tesla boss Elon Musk. The fragile US trade truce with China may break down causing more financial turmoil, making Trump less keen to pick a fight with the EU. If the Supreme Court stops him using emergency powers to impose tariffs, his negotiating position will be weaker. And tariffs could hurt the US more than its supposed victims, by pushing up inflation and crimping growth. A QUICK DEAL? Trump has zig-zagged in his trade threats and actions against the EU. The current state of play is that there are 50% tariffs on US imports of steel and aluminium from the bloc, a 25% tariff on cars and 10% so-called reciprocal tariffs on most other goods. And so they're trying to be the first and the best to get there, which is why everybody's throwing so much money at it without any clear sense of, you know, The US president has threatened to jack up these reciprocal tariffs to 50% if there is no deal by July 9. He is also looking at more 'sectoral tariffs', including on pharmaceuticals and semiconductors. While the EU has complained to the World Trade Organization (WTO), it has delayed its own retaliation. Its negotiators accept that they are unlikely to overturn the reciprocal tariffs, the Financial Times has reported. The bloc still aims to avoid the sectoral ones. Those on cars and any on pharmaceuticals would hurt it the most. It has dangled the possibility of buying more US equipment and natural gas to get a deal. An agreement on those lines could be good for the EU. It needs to beef up its defences and eliminate its purchases of Russian gas. While it would be best to have its own arms and energy supplies, buying more from the US makes sense as an interim measure. An important nuance, though, is that the EU should reserve the right to take action against the reciprocal tariffs after the WTO issues its verdict, says Ignacio Garcia Bercero, a former senior EU trade official. Such a pact would involve quite a climbdown by Trump. True, arms and gas purchases would narrow the US goods deficit with the EU, which was $236 billion last year. But his administration has a host of other complaints including the bloc's value-added tax and food safety standards as well the digital taxes that some of its members impose on tech giants. It is hard to see the bloc agreeing anything in those areas, says Simon Evenett, professor of geopolitics and strategy at IMD. BACK TO WAR? Although the US side described last week's trade talks with the EU as 'very constructive', discussions could easily break down. The question then is how the bloc would react if Trump imposed higher reciprocal tariffs. The EU has so far imposed no countermeasures. Though it has agreed to tax 21 billion euros of US imports in response to the steel and aluminium tariffs, it has delayed these until July 14 to try to get a deal. The European Commission, its executive arm, is also consulting on taxing a further 95 billion euros of US imports in response to the car tariffs and the reciprocal ones. But added together, these tit-for-tat measures would be equivalent to only a third of the 379 billion euros of EU imports subject to Trump's tariffs. Some analysts think the bloc needs to be tougher. One idea is to crack down on American services, where the US had a 109 billion euro surplus with the EU in 2023. Another is to activate its 'anti-coercion instrument ', which would allow retaliation against US companies operating in the bloc. Yet another is to threaten to ban exports of critical goods, such as the lithographic equipment necessary to make semiconductors. Extreme events may require extreme responses. But for now, the EU should keep its cool. It should not kid itself that it is stronger or more united than it is. It should remember that Trump may get weaker with time. And it should never forget Ukraine. — Reuters Hugo Dixon The writer is Commentator-at-Large for Reuters. He was the founding chair and editor-in-chief of Breakingviews.

Women in Oman import handbags worth RO 9.5m in 2024
Women in Oman import handbags worth RO 9.5m in 2024

Observer

time13 hours ago

  • Observer

Women in Oman import handbags worth RO 9.5m in 2024

Muscat: Women in Oman imported handbags worth RO 9.5 million in 2024, marking a 37 per cent rise compared to the same period in 2023. The National Center for Statistics and Information said Oman has witnessed a notable diversification in the types of imported handbags ranging from materials to designs to international brands thus catering to the different ages and tastes. Part of this increase is attributed to the growing online stores that have become key players in selling women's goods. These platforms have helped provide diverse options, competitive prices and convenient shipping across Oman. Maryam al Muqbali, owner of one of the online stores, said that the demand for online handbag purchases has witnessed remarkable growth in recent years, especially during festivals. "We've noticed that women are increasingly relying on online shopping because it offers attractive deals and prices, as well as multiple payment options and fast delivery services, all of which have significantly boosted sales. We always strive to import high-quality handbags that keep up with the latest fashion trends to meet the needs of women of all ages." Khadija al Balushi, one of the consumers, said, "I love buying handbags, whether from stores or online. In Oman, there's a wide variety of handbag stores, both in large shopping centres and small local markets, and each store offers different collections to suit all tastes. I often look for handbags that suit my daily needs in terms of quality and durability. Sometimes, I resort to online stores if I want new designs or special offers. But at the same time, I love shopping in person because I can touch and see the product up close before buying, which is important to me to ensure the product is genuine, as some online accounts might sell counterfeit items." She said sometimes she hesitate before buying, "because I'm not sure about the product's quality, so I focus on reading reviews and others' experiences before making a purchase. Nevertheless, online shopping has made many things easier for us, especially when time is tight." She said she has both original and imitation handbags, noting that she prefers the originals. She explained that it is sometimes difficult to distinguish between original and fakes. She believes that the genuine product is worth the price. This increase comes within the context of the continuous growth of the Omani consumer market, especially during holidays, vacations and social occasions, which are periods that typically see increased demand for such products.

Iran plans to submit own nuclear proposal to US soon
Iran plans to submit own nuclear proposal to US soon

Observer

time13 hours ago

  • Observer

Iran plans to submit own nuclear proposal to US soon

TEHRAN: Iran said on Monday it will soon present a counter-proposal on a nuclear deal with the United States, after it had described Washington's offer as containing "ambiguities". Tehran and Washington have held five rounds of talks since April to thrash out a new nuclear accord to replace the deal with major powers that US President Donald Trump abandoned during his first term in 2018. The longtime foes have been locked in a diplomatic standoff over Iran's uranium enrichment, with Tehran defending it as a "non-negotiable" right and Washington describing it as a "red line". On May 31, after the fifth round of talks, Iran said it had received "elements" of a US proposal, with Foreign Minister Abbas Araghchi later saying the text contained "ambiguities". Foreign ministry spokesman Esmaeil Baqaei criticised the US proposal as "lacking elements" reflective of the previous rounds of negotiations, without providing further details. "We will soon submit our own proposed plan to the other side once it is finalised," Baqaei told a weekly press briefing. "It is a proposal that is reasonable, logical and balanced, and we strongly recommend that the American side value this opportunity." Also on Monday, Deputy Foreign Minister Majid Takht-Ravanchi told state news agency IRNA that Iran's response "is a framework for agreement". "If we reach an understanding on this framework in principle, further extensive negotiations will begin on its details," he added. Iran's parliament speaker has said the US proposal failed to include the lifting of sanctions -- a key demand for Tehran, which has been reeling under their weight for years. Trump, who has revived his "maximum pressure" campaign of sanctions on Iran since taking office in January, has repeatedly said Tehran will not be allowed any uranium enrichment under a potential deal. On Wednesday, Iran's supreme leader Ayatollah Ali Khamenei said the US offer was "100 per cent against" notions of independence and self-reliance. He insisted that uranium enrichment was "key" to Iran's nuclear programme and that the US "cannot have a say" on the issue. Iran currently enriches uranium to 60 per cent, far above the 3.67-per cent limit set in the 2015 deal and close though still short of the 90 per cent needed for a nuclear warhead. The United Nations nuclear watchdog on Monday began a Board of Governors meeting in Vienna that will last until Friday to discuss Iran's nuclear activities among other topics. "I call upon Iran urgently to cooperate fully and effectively with the International Atomic Energy Agency," said agency chief Rafael Grossi in his opening speech. "Unless and until Iran assists the agency in resolving the outstanding safeguards issues, the agency will not be in a position to provide assurance that Iran's nuclear programme is exclusively peaceful," he added. — AFP

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store