Underlining the importance Oman places on Malaysia as a trade destination, management from Ithraa, Oman’s investment promotion and export development agency, recently carried out a fact-finding trade mission to Kuala Lumpur to meet counterparts at Malaysia External Trade Development Corporation (MATRADE).
Headed by Mrs. Nasima Al Balushi, Ithraa’s Director General of Export Development, Ithraa management held four-days of trade talks with representatives from MATRADE, the Export-Import Bank of Malaysia, the Malaysian Investment Development Authority and the SME Corporation Malaysia.
“Our visit to Kuala Lumpur was designed to enhance dialogue between Ithraa and our Malaysian counterparts and explore business and trade opportunities. Providing information and a platform for Omani non-oil exporters to explore international business opportunities and penetrate new markets is fundamental to our mandate.”
Malaysia’s economy is set to grow between 4.5% and 5.5% this year, making it one of the 20 fastest-growing economies in the world. It is an economy with strong fundamentals that is on a steady and sustainable growth path.
Mrs. Al Balushi went on to add: “the Sultanate is open for business and the Government is committed to supporting non-oil Omani export growth and encouraging inward investment. This was the message we were delivering to colleagues in Kuala Lumpur.”
Promoting Oman abroad and sharing the Government’s economic message is central to the work of Ithraa.
Supporting Ithraa’s hub and spoke approach to driving non-oil exports, it has over 20 investment and trade representatives placed in strategic markets around the world, all playing an important role in helping Oman’s non-oil exporters learn about and penetrate mature as well as emerging markets.
According to Ithraa’s Director General of Export Development “trade missions are a valuable way of developing new and existing markets overseas for Omani businesses. This is particularly important given the value of non-oil exports to our economy. The objective of our Kuala Lumpurvisitwas to build on the existing economic links Oman enjoys withMalaysia and, in a wider context, southeast Asia. The meetings held will serve to bolster productive trade and investment relations and reinforce the potential for innovative Omani exporters in the fast growing Malaysian economy which will ultimately mean jobs in Oman.”
In a separate development, Ithraa’s Export Development Directorate received a delegation from Kuwait’s Public Authority for Industry who were visiting Oman to meet government and private sector representatives to discuss bilateral trade relations.