Credit Oman holds workshop for plastics exporters to US

BUSINESS REPORTER
MUSCAT, MAY 10
Credit Oman, in collaboration with the Oman Business Office in the United States and OQ’s 'Ladayn' programme, organised a specialised session for Omani plastic manufacturers participating in the Plastic Export Accelerator. This six-week, cohort-based programme is designed to empower Omani plastic firms seeking to enter or expand their footprint within the US market.
The session aimed to familiarise participating companies with the credit insurance services provided by Credit Oman. It highlighted the agency's ongoing efforts to bolster Omani exports through insurance solutions that mitigate risks and facilitate entry into diverse global markets.
The Plastic Export Accelerator provides export-ready Omani plastic manufacturers, polymer converters, and downstream companies with practical guidance on navigating US market entry requirements.
It focuses on leveraging the Oman-US Free Trade Agreement (FTA) and engaging effectively with American buyers and partners. Through structured training and professional mentorship, the programme converts theoretical knowledge into actionable strategies regarding market readiness, regulatory compliance, and buyer networking.
During the session, Credit Oman showcased its credit insurance portfolio, which protects Omani exporters against the risk of buyer non-payment. These services provide the necessary confidence to offer competitive credit terms a critical factor in the American market. By utilising credit insurance, Omani firms are better positioned to offer open account payment terms, which are widely expected by US buyers.
Haitham bin Abdullah al Yaqoobi, Acting CEO of Credit Oman, stated: The US market represents a significant opportunity for Omani plastic manufacturers, especially given the Free Trade Agreement. However, entering a sophisticated and highly competitive market requires more than just product readiness; it demands the financial confidence to extend credit to buyers safely. Credit insurance is a pivotal tool in this journey, transforming credit terms from a risk into a competitive advantage and enabling our manufacturers to compete on equal footing with global suppliers.”
Al Yaqoobi also noted that Credit Oman’s insured sales to the United States reached over RO 14 million last year, underscoring the growing trade volume supported by the agency.
The workshop also featured active participation from leading Omani banks, which presented tailored banking and trade finance solutions. These included export financing, Letters of Credit (LCs), documentary collections, and working capital facilities, all aimed at enabling Omani companies to initiate and scale their US export operations with confidence.
The partnership between Credit Oman, the Oman Business Office in the US, and OQ’s Ladayn reflects a unified national effort to diversify Oman’s non-oil export base. By integrating market entry guidance, credit risk mitigation, and trade finance support, the initiative ensures sustainable growth for Omani manufacturers in high-priority international markets.