Ithraa to lead high-profile Omani trade delegation to China

H E Yahya bin Said al Jabri, Ithraa Chairman. Image credit: Oman Observer

Ithraa Chairman H E Yahya bin Said al Jabri will lead a high-profile Omani trade delegation that will take part in the China-Arab States Expo being held in Yinchuan, China next week.

The delegation will also hold important talks with Chinese business leaders on topics involving trade, investment, and participation in the Belt and Road Initiative, according to a statement issued by the organisation.

The statement added that Sultanate’s attendance at this event aims to bolster the Oman-China partnership across various sectors. The event will see Al Jabri speak alongside senior Chinese business figures and will also provide the opportunity for members of the delegation to pitch projects to potential investors.

Nasima Al Balushi, Ithraa’s Director-General for Investment & Exports, said that there were significant joint partnership avenues between both the countries. “Our strengths, particularly in manufacturing, logistics, fisheries, mining, and tourism make us a very attractive proposition for Chinese investors, she said and added, “We are committed to driving growth across the sultanate by connecting it to the world’s most important markets.”

China’s Belt and Road Initiative – touted as the biggest development push in history – has tremendous potential to transform the economic environment of participating economies such as Oman, which is actively looking at diversifying its economy and boost foreign investment along with creating sustainable jobs in the market. The Belt and Road Initiative provides Oman a great platform to establish its presence in the global market.

Al Balushi believes that the Sultanate is a great place for Chinese investment on the back of China and Oman’s “long-standing highly collaborative business relationship, one that fuels prosperity in both countries”.

Oman Wanfang, a consortium of six private Chinese firms, last year, pledged to invest  $10.7 billion in building an 11,720 sqm industrial city on the Special Economic Zone Authority in Duqm. Given Oman’s status an increasingly popular shipping and logistics hub, the Belt and Road Initiative opens doors to more maritime trade opportunities not only within the region but also in places like Africa where China has already invested $60bn for infrastructure development as part of its investment in the continent.

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