Latest news with #AUSTR
Observer
23-04-2025
- Business
- Observer
Oman discusses trade relations with US
Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, met on Wednesday in Muscat with Bryant Trick, Assistant US Trade Representative (AUSTR) for Europe and the Middle East; and Jason Pontin, Director of European and Middle Eastern Affairs at the Office of the US Trade Representative. The meeting aimed to enhance economic and trade relations between the Sultanate of Oman and the United States. During the meeting, discussions focused on ways to develop trade and investment cooperation between the two countries, as well as exploring promising opportunities across various sectors, in line with the priorities of Oman Vision 2040 and the economic diversification strategies of the Sultanate of Oman. The discussions also addressed ways to benefit from the free trade agreements between the two countries, mechanisms to facilitate trade, boost exports and encourage high-value investments that enhance the competitiveness of the Omani market at both regional and international levels. Al Yousef emphasised the depth of the Omani-American partnership and Oman's keenness to develop its trade relations with the United States. He welcomed increased engagement from the US private sector in the Omani market and highlighted the investment advantages offered by the Sultanate of Oman. He also stressed the importance of continued dialogue to expand cooperation in trade and investment. This meeting is part of a series of bilateral engagements aimed at strengthening communication, exchanging expertise and supporting sustainable economic partnerships that serve the mutual interests of both countries. The meeting was attended by Ana Escrogima, Ambassador of the United States of American to the Sultanate of Oman. OMAN-US FREE TRADE AGREEMENT Oman Chamber of Commerce and Industry (OCCI) on Wednesday hosted a meeting in Muscat with US trade representatives to discuss the Free Trade Agreement (FTA) between Oman and the United States. The session focused on identifying key challenges hindering Omani private sector exporters and importers from optimally implementing the agreement's provisions. Discussions addressed US imposed tariffs and the Omani private sector's aspirations for reconsideration of these tariffs on Omani exports. The meeting emphasised the importance of establishing Oman's forthcoming commercial office in the United States, expected to commence operations soon. This office is anticipated to enhance Omani exports to the US market while encouraging American exports and investments into Oman. A parallel workshop convened between Omani and American exporters, importers and investors to examine obstacles affecting their trade and investment activities. Faisal bin Abdullah al Rawas, Chairman of OCCI's Board of Directors, affirmed that the FTA serves as a strategic tool to bolster the economy and expand market access for Omani products in the United States. He stressed the necessity of collaborative efforts between government entities and the private sector to maximise the agreement's benefits. Al Rawas noted that OCCI continues to analyse challenges facing Omani private sector companies in accessing global markets, including the US, while evaluating solutions to facilitate the unimpeded flow of goods and services. — ONA
Times of Oman
23-04-2025
- Business
- Times of Oman
Commerce Minister discusses strengthening economic relations with US officials
Muscat: Qais Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion, met today in Muscat, with Bryant Trick, Assistant U.S. Trade Representative(AUSTR) forEurope and the Middle East and Jason Pontin, Director of European and Middle Eastern Affairs at the Office of the U.S. Trade Representative. The meeting aimed to enhance economic and trade relations between the Sultanate of Oman and the United States of America. During the meeting, discussions focused on ways to develop trade and investment cooperation between the two countries, as well as exploring promising opportunities across various sectors, in line with the priorities of Oman Vision 2040 and the economic diversification strategies of the Sultanate of Oman. The discussions also addressed ways to benefit from the free trade agreements between the two countries, mechanisms to facilitate trade, boost exports, and encourage high-value investments that enhance the competitiveness of the Omani market at both regional and international levels. Qais Al Yousef emphasized the depth of the Omani-American partnership and Oman's keenness to develop its trade relations with the United States. He welcomed increased engagement from the U.S. private sector in the Omani market and highlighted the investment advantages offered by the Sultanate of Oman. He also stressed the importance of continued dialogue to expand cooperation in trade and investment. This meeting is part of a series of bilateral engagements aimed at strengthening communication, exchanging expertise, and supporting sustainable economic partnerships that serve the mutual interests of both countries. The meeting was attended by Ana Escrogima, Ambassador of the United States of American to the Sultanate of Oman.
